Performance Food Group (NYSE:PFGC) Given New $98.00 Price Target at Barclays

Performance Food Group (NYSE:PFGC - Free Report) had its price objective hoisted by Barclays from $88.00 to $98.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the food distribution company's stock.

A number of other analysts have also recently commented on PFGC. Jefferies Financial Group lifted their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Truist Financial upped their target price on Performance Food Group from $86.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Morgan Stanley reduced their price target on shares of Performance Food Group from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Finally, BMO Capital Markets raised their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and an average target price of $88.88.

Performance Food Group Price Performance

Shares of Performance Food Group stock remained flat at $82.54 during trading on Tuesday. The stock had a trading volume of 557,244 shares, compared to its average volume of 1,016,778. Performance Food Group has a 52-week low of $54.71 and a 52-week high of $83.70. The company has a fifty day moving average price of $76.56 and a 200-day moving average price of $71.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The stock has a market capitalization of $12.86 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the firm posted $1.14 EPS. Performance Food Group's revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Performance Food Group will post 4.88 earnings per share for the current year.

Insider Activity at Performance Food Group

In related news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now owns 149,863 shares in the company, valued at $11,185,774.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider George L. Holm sold 63,500 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company's stock, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the sale, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was 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 worth $7,426,075. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Performance Food Group in the first quarter valued at about $44,000. Oak Thistle LLC acquired a new stake in Performance Food Group in the 1st quarter valued at about $449,000. Vaughan Nelson Investment Management L.P. lifted its stake in Performance Food Group by 34.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 388,712 shares of the food distribution company's stock worth $29,013,000 after purchasing an additional 99,110 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Performance Food Group by 12.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company's stock worth $396,000 after purchasing an additional 584 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in shares of Performance Food Group by 2.4% in the first quarter. State of Michigan Retirement System now owns 38,203 shares of the food distribution company's stock valued at $2,851,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

About Performance Food Group

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.