Morgan Stanley Boosts Performance Food Group (NYSE:PFGC) Price Target to $80.00

Performance Food Group (NYSE:PFGCFree Report) had its target price hoisted by Morgan Stanley from $78.00 to $80.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the food distribution company’s stock.

Several other brokerages also recently commented on PFGC. StockNews.com upgraded Performance Food Group from a hold rating to a buy rating in a research note on Thursday, February 8th. Stephens raised their price objective on Performance Food Group from $75.00 to $85.00 and gave the company an overweight rating in a report on Thursday, February 8th. BMO Capital Markets raised their price objective on Performance Food Group from $78.00 to $80.00 and gave the company an outperform rating in a report on Thursday, February 8th. Finally, Barclays raised their price objective on Performance Food Group from $78.00 to $86.00 and gave the company an overweight rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has an average rating of Moderate Buy and an average target price of $81.25.

View Our Latest Research Report on Performance Food Group

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $69.22 on Friday. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 0.98 and a beta of 1.38. The stock’s 50 day moving average is $74.42 and its 200-day moving average is $67.72. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.54. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05.

Performance Food Group (NYSE:PFGCGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.20 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Performance Food Group will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of Performance Food Group by 179.2% in the fourth quarter. State of Alaska Department of Revenue now owns 51,803 shares of the food distribution company’s stock worth $3,581,000 after acquiring an additional 33,250 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Performance Food Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after purchasing an additional 107,449 shares in the last quarter. CX Institutional lifted its holdings in shares of Performance Food Group by 31.4% during the fourth quarter. CX Institutional now owns 75,294 shares of the food distribution company’s stock valued at $5,207,000 after purchasing an additional 18,005 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Performance Food Group by 4.2% during the third quarter. Natixis Advisors L.P. now owns 693,538 shares of the food distribution company’s stock valued at $40,822,000 after purchasing an additional 27,870 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Performance Food Group during the third quarter valued at $7,746,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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