Performance Food Group (NYSE:PFGC - Get Free Report)'s stock had its "equal weight" rating reaffirmed by stock analysts at Morgan Stanley in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $92.00 price target on the food distribution company's stock. Morgan Stanley's target price suggests a potential upside of 12.13% from the stock's previous close.
Several other brokerages also recently weighed in on PFGC. Truist Financial upped their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Barclays boosted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. StockNews.com raised shares of Performance Food Group from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, August 15th. One equities research 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.88.
Read Our Latest Analysis on PFGC
Performance Food Group Trading Down 0.6 %
Shares of NYSE PFGC traded down $0.50 during midday trading on Monday, hitting $82.05. The stock had a trading volume of 834,138 shares, compared to its average volume of 1,013,011. The company has a fifty day moving average price of $77.10 and a 200 day moving average price of $71.23. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 0.83 and a beta of 1.45. Performance Food Group has a 1-year low of $55.15 and a 1-year high of $83.70. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95.
Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts predict that Performance Food Group will post 4.88 earnings per share for the current year.
Insider Buying and Selling at Performance Food Group
In related news, insider Scott E. Mcpherson sold 25,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 149,863 shares in the company, valued at $11,185,774.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company's stock, valued at approximately $12,152,310.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 149,863 shares of the company's stock, valued at approximately $11,185,774.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock valued at $7,426,075 in the last ninety days. Company insiders own 2.80% of the company's stock.
Institutional Investors Weigh In On Performance Food Group
A number of institutional investors and hedge funds have recently modified their holdings of PFGC. Primecap Management Co. CA lifted its holdings in shares of Performance Food Group by 223.4% during the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company's stock valued at $107,447,000 after purchasing an additional 1,122,676 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Performance Food Group by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company's stock valued at $142,170,000 after buying an additional 469,500 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company's stock valued at $113,093,000 after buying an additional 372,218 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Performance Food Group by 166.1% in the third quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company's stock worth $21,588,000 after buying an additional 171,953 shares during the period. Finally, Eminence Capital LP increased its position in shares of Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company's stock worth $158,572,000 after acquiring an additional 164,472 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.
About Performance Food Group
(
Get Free Report)
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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