Free Trial

Performance Food Group (NYSE:PFGC) Given New $92.00 Price Target at Piper Sandler

Performance Food Group logo with Retail/Wholesale background

Performance Food Group (NYSE:PFGC - Get Free Report) had its price objective upped by analysts at Piper Sandler from $79.00 to $92.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the food distribution company's stock. Piper Sandler's price target indicates a potential upside of 10.64% from the company's current price.

PFGC has been the topic of several other reports. Guggenheim increased their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. UBS Group raised 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, November 7th. Jefferies Financial Group raised their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Finally, Barclays raised their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Performance Food Group presently has an average rating of "Moderate Buy" and an average target price of $94.27.

Check Out Our Latest Stock Analysis on PFGC

Performance Food Group Stock Performance

Shares of PFGC stock traded down $0.05 during trading on Monday, reaching $83.15. 158,507 shares of the company's stock traded hands, compared to its average volume of 1,027,131. The company has a market capitalization of $12.95 billion, a P/E ratio of 30.68, a PEG ratio of 0.90 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The firm's 50-day moving average is $80.06 and its 200 day moving average is $72.79. Performance Food Group has a 1 year low of $61.40 and a 1 year high of $89.00.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.06). The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share. Equities research analysts expect that Performance Food Group will post 4.71 EPS for the current year.

Insider Activity at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the transaction, the insider now directly owns 149,863 shares in the company, valued at approximately $11,185,774.32. This represents a 14.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock valued at $2,756,920 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors have recently bought and sold shares of the business. Atria Investments Inc grew its stake in Performance Food Group by 79.3% in the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company's stock valued at $2,180,000 after acquiring an additional 12,919 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Performance Food Group in the 2nd quarter valued at about $6,843,000. Aigen Investment Management LP raised its holdings in Performance Food Group by 56.1% in the 3rd quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company's stock valued at $1,330,000 after buying an additional 6,099 shares during the period. Magnetar Financial LLC acquired a new position in Performance Food Group in the 1st quarter valued at about $1,913,000. Finally, Dimensional Fund Advisors LP grew its position in Performance Food Group by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company's stock valued at $142,170,000 after acquiring an additional 469,500 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Company Profile

(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.

Recommended Stories

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ I was wrong. Dead wrong. (From Porter & Company) (Ad)

Should you invest $1,000 in Performance Food Group right now?

Before you consider Performance Food Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Performance Food Group wasn't on the list.

While Performance Food Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 High-Yield Dividend Stocks that Could Ruin Your Retirement Cover

Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Whitestone REIT is Outperforming in 2024: 35% Growth & Monthly Dividends
Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines