Performance Food Group (NYSE:PFGC) PT Raised to $47.00

Performance Food Group (NYSE:PFGC) had its target price hoisted by research analysts at Barclays from $44.00 to $47.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the food distribution company’s stock. Barclays‘s target price would indicate a potential upside of 6.48% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective (up from $46.00) on shares of Performance Food Group in a research note on Thursday, August 15th. Buckingham Research raised their price objective on shares of Performance Food Group from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their price objective on shares of Performance Food Group from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Loop Capital raised their price objective on shares of Performance Food Group to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Zacks Investment Research raised shares of Performance Food Group from a “sell” rating to a “hold” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.10.

Shares of Performance Food Group stock traded down $1.61 during trading hours on Thursday, reaching $44.14. The company’s stock had a trading volume of 706,952 shares, compared to its average volume of 630,763. Performance Food Group has a one year low of $30.07 and a one year high of $47.26. The company has a market capitalization of $4.56 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.89 and a beta of 0.60. The stock’s fifty day simple moving average is $44.07 and its two-hundred day simple moving average is $42.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.77 and a current ratio of 1.57.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.15. Performance Food Group had a net margin of 0.84% and a return on equity of 15.86%. The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 37.5% compared to the same quarter last year. As a group, research analysts forecast that Performance Food Group will post 1.98 earnings per share for the current year.

In related news, insider Craig Howard Hoskins sold 17,009 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $43.91, for a total transaction of $746,865.19. Following the transaction, the insider now directly owns 123,802 shares of the company’s stock, valued at $5,436,145.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine R. Vlahcevic sold 7,879 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $45.27, for a total transaction of $356,682.33. Following the transaction, the insider now directly owns 19,807 shares in the company, valued at $896,662.89. The disclosure for this sale can be found here. Insiders have sold 31,888 shares of company stock worth $1,429,538 over the last three months. 3.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its stake in shares of Performance Food Group by 12.9% in the second quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock worth $85,000 after purchasing an additional 242 shares in the last quarter. Renaissance Group LLC increased its stake in shares of Performance Food Group by 2.3% in the third quarter. Renaissance Group LLC now owns 12,023 shares of the food distribution company’s stock worth $553,000 after purchasing an additional 270 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Performance Food Group by 3.9% in the second quarter. State of Alaska Department of Revenue now owns 8,789 shares of the food distribution company’s stock worth $351,000 after purchasing an additional 328 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Performance Food Group by 0.3% in the second quarter. Bessemer Group Inc. now owns 118,500 shares of the food distribution company’s stock worth $4,744,000 after purchasing an additional 400 shares in the last quarter. Finally, Zeke Capital Advisors LLC increased its stake in shares of Performance Food Group by 3.0% in the second quarter. Zeke Capital Advisors LLC now owns 14,017 shares of the food distribution company’s stock worth $561,000 after purchasing an additional 409 shares in the last quarter. 97.15% 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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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