Performance Food Group Company (NYSE:PFGC) Receives $123.09 Average Target Price from Analysts

Shares of Performance Food Group Company (NYSE:PFGC) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $123.0909.

Several analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Citigroup raised their price target on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. TD Cowen initiated coverage on shares of Performance Food Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $128.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider A Brent King sold 6,111 shares of Performance Food Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the transaction, the insider directly owned 44,260 shares in the company, valued at approximately $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. The trade was a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 30,187 shares of company stock valued at $3,027,315. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Performance Food Group in the 4th quarter worth $208,170,000. Wellington Management Group LLP grew its stake in shares of Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the period. Invesco Ltd. increased its holdings in shares of Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after purchasing an additional 1,168,869 shares in the last quarter. Eminence Capital LP increased its holdings in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after purchasing an additional 998,249 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Performance Food Group during the fourth quarter worth about $81,020,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Down 2.3%

Shares of NYSE:PFGC opened at $109.22 on Friday. The firm has a market capitalization of $17.16 billion, a PE ratio of 52.01, a price-to-earnings-growth ratio of 1.40 and a beta of 0.91. Performance Food Group has a 1 year low of $80.82 and a 1 year high of $116.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The firm’s 50-day moving average is $103.49 and its two-hundred day moving average is $95.30.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share. Analysts predict that Performance Food Group will post 4.57 EPS for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.