Guggenheim Issues Positive Forecast for Performance Food Group (NYSE:PFGC) Stock Price

Performance Food Group (NYSE:PFGC - Get Free Report) had its target price raised by analysts at Guggenheim from $90.00 to $95.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the food distribution company's stock. Guggenheim's price objective points to a potential upside of 9.33% from the stock's previous close.

A number of other research firms have also recently weighed in on PFGC. UBS Group upped their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley reissued an "equal weight" rating and issued a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. StockNews.com upgraded Performance Food Group from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Barclays increased their target price on Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Truist Financial upped their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Performance Food Group has an average rating of "Moderate Buy" and an average target price of $93.20.

Performance Food Group Stock Down 0.8 %

Shares of PFGC traded down $0.73 during midday trading on Thursday, reaching $86.89. 543,485 shares of the company were exchanged, compared to its average volume of 1,023,423. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Performance Food Group has a 1-year low of $59.35 and a 1-year high of $89.00. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 0.81 and a beta of 1.44. The stock has a 50-day moving average price of $78.39 and a 200-day moving average price of $71.94.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.05). Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same period last year, the business earned $1.15 EPS. The firm's revenue was up 3.2% compared to the same quarter last year. Research analysts expect that Performance Food Group will post 4.87 earnings per share for the current year.

Insider Activity at Performance Food Group

In related news, Director Kimberly Grant sold 4,000 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the sale, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Scott E. Mcpherson sold 25,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares in the company, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly Grant sold 4,000 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the sale, the director now owns 10,184 shares in the company, valued at $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,500 shares of company stock valued at $7,426,075. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Performance Food Group

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Performance Food Group by 281.4% in the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock valued at $26,000 after acquiring an additional 242 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Performance Food Group in the third quarter worth $26,000. Innealta Capital LLC bought a new position in shares of Performance Food Group during the 2nd quarter worth about $30,000. Venturi Wealth Management LLC increased its stake in Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock valued at $32,000 after acquiring an additional 274 shares during the period. Finally, UMB Bank n.a. increased its stake in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company's stock valued at $36,000 after acquiring an additional 365 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.

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