Barclays Raises Performance Food Group (NYSE:PFGC) Price Target to $88.00

Performance Food Group (NYSE:PFGC) had its price target hoisted by Barclays from $84.00 to $88.00 in a research note issued to investors on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the food distribution company’s stock.

A number of other research firms also recently issued reports on PFGC. Truist Financial raised 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. Morgan Stanley decreased their price objective on Performance Food Group from $80.00 to $76.00 and set an equal weight rating for the company in a report on Tuesday, July 16th. BMO Capital Markets upped their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the company an outperform rating in a report on Thursday. Finally, StockNews.com downgraded shares of Performance Food Group from a buy rating to a hold rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Performance Food Group presently has an average rating of Moderate Buy and an average target price of $86.38.

Performance Food Group Stock Performance

PFGC stock opened at $73.48 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The firm has a market cap of $11.43 billion, a PE ratio of 27.42, a P/E/G ratio of 0.90 and a beta of 1.42. The business has a 50 day moving average of $66.55 and a 200-day moving average of $70.34. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping 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 business had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Performance Food Group will post 4.9 earnings per share for the current year.

Institutional Investors Weigh In On Performance Food Group

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. grew its position in Performance Food Group by 64.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,679 shares of the food distribution company’s stock worth $393,000 after acquiring an additional 2,230 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Performance Food Group by 6,612.2% in the fourth quarter. International Assets Investment Management LLC now owns 116,725 shares of the food distribution company’s stock worth $8,072,000 after buying an additional 114,986 shares during the period. Cerity Partners LLC bought a new stake in Performance Food Group in the 4th quarter worth $1,293,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Performance Food Group by 8.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,051 shares of the food distribution company’s stock worth $2,285,000 after buying an additional 2,601 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Performance Food Group by 32.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 135,747 shares of the food distribution company’s stock worth $9,387,000 after acquiring an additional 33,373 shares during the period. Institutional investors own 96.87% of the company’s stock.

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.