Analysts Set Performance Food Group (NYSE:PFGC) Target Price at $95.55

Shares of Performance Food Group (NYSE:PFGC) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $95.55.

A number of equities research analysts recently commented on PFGC shares. Barclays increased their price objective on shares of Performance Food Group from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Citigroup began coverage on Performance Food Group in a report on Thursday. They issued a “buy” rating for the company. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Finally, Truist Financial cut their price target on Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

Insider Activity

In other news, insider Craig Howard Hoskins sold 14,285 shares of Performance Food Group stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the sale, the insider now owns 138,008 shares of the company’s stock, valued at $11,551,269.60. The trade was a 9.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after purchasing an additional 401,235 shares during the period. Jennison Associates LLC grew its position in Performance Food Group by 8.1% during the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after acquiring an additional 125,532 shares during the period. Inspire Investing LLC purchased a new stake in Performance Food Group during the fourth quarter valued at about $814,000. Proficio Capital Partners LLC purchased a new stake in Performance Food Group during the fourth quarter valued at about $2,087,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Performance Food Group during the fourth quarter valued at about $3,697,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $84.72 on Monday. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 0.96 and a beta of 1.13. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The company’s 50-day moving average price is $79.80 and its 200 day moving average price is $83.50. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Performance Food Group’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

About Performance Food Group

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.