Performance Food Group (NYSE:PFGC) Price Target Raised to $92.00

Performance Food Group (NYSE:PFGC) had its target price hoisted by Piper Sandler from $79.00 to $92.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the food distribution company’s stock.

A number of other brokerages have also recently issued reports on PFGC. Jefferies Financial Group upped their target price 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. UBS Group upped their target price on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Guggenheim upped their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.27.

Performance Food Group Price Performance

NYSE PFGC opened at $83.48 on Monday. The stock’s 50-day moving average price is $80.06 and its two-hundred day moving average price is $72.79. 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 company has a market cap of $13.01 billion, a PE ratio of 30.80, a PEG ratio of 0.90 and a beta of 1.44. Performance Food Group has a 1 year low of $61.40 and a 1 year high of $89.00.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. During the same period last year, the firm earned $1.15 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that Performance Food Group will post 4.71 EPS for the current year.

Insider Activity at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 10,184 shares in the company, valued at $749,644.24. This trade represents a 28.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,000 shares of company stock worth $2,756,920. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Performance Food Group

A number of large investors have recently bought and sold shares of PFGC. Blair William & Co. IL bought a new stake in Performance Food Group in the first quarter valued at $213,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Performance Food Group during the first quarter worth $346,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Performance Food Group by 21.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,625 shares of the food distribution company’s stock worth $644,000 after purchasing an additional 1,551 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Performance Food Group during the first quarter worth $1,182,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Performance Food Group during the first quarter worth $179,000. 96.87% of the stock is currently owned by institutional investors.

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.