Analysts Set Performance Food Group Company (NYSE:PFGC) Price Target at $123.82

Shares of Performance Food Group Company (NYSE:PFGC) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $126.90.

A number of research analysts have commented on the company. TD Cowen lowered their price target on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Morgan Stanley lifted their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Weiss Ratings upgraded Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, Guggenheim raised their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th.

Insider Buying and Selling at Performance Food Group

In related news, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares of the company’s stock, valued at $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erika T. Davis sold 2,595 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.00, for a total transaction of $285,450.00. Following the completion of the transaction, the insider owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,687 shares of company stock valued at $2,506,195 in the last three months. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Performance Food Group during the 2nd quarter valued at about $1,576,983,000. Primecap Management Co. CA bought a new stake in shares of Performance Food Group in the second quarter worth approximately $305,064,000. Norges Bank purchased a new position in shares of Performance Food Group during the fourth quarter valued at approximately $208,170,000. Wellington Management Group LLP raised its holdings in shares of Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after purchasing an additional 1,964,799 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after purchasing an additional 1,168,869 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $104.67 on Wednesday. The company’s fifty day simple moving average is $110.03 and its two-hundred day simple moving average is $98.09. Performance Food Group has a 12-month low of $80.82 and a 12-month high of $117.47. The firm has a market cap of $16.49 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.38 and a beta of 0.91. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. As a group, equities analysts expect that Performance Food Group will post 5.58 EPS for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.