Performance Food Group (NYSE:PFGC) Price Target Raised to $96.00

Performance Food Group (NYSE:PFGC) had its target price raised by Morgan Stanley from $94.00 to $96.00 in a research note released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the food distribution company’s stock.

PFGC has been the subject of a number of other research reports. Melius began coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price for the company. Jefferies Financial Group upped their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Melius Research upgraded Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Guggenheim increased their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.67.

Performance Food Group Stock Down 0.4 %

NYSE PFGC opened at $88.75 on Tuesday. The stock’s 50 day simple moving average is $86.51 and its 200 day simple moving average is $78.69. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The firm has a market cap of $13.83 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 0.96 and a beta of 1.43.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter last year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Performance Food Group will post 4.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the sale, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. This represents a 10.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in Performance Food Group during the 2nd quarter valued at about $357,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Performance Food Group by 7.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,275 shares of the food distribution company’s stock worth $1,010,000 after purchasing an additional 1,090 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Performance Food Group by 115.4% in the 2nd quarter. Hsbc Holdings PLC now owns 34,025 shares of the food distribution company’s stock worth $2,253,000 after buying an additional 18,229 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Performance Food Group by 5,763.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 64,500 shares of the food distribution company’s stock valued at $4,264,000 after buying an additional 63,400 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Performance Food Group by 7.3% during the second quarter. Sei Investments Co. now owns 281,688 shares of the food distribution company’s stock valued at $18,622,000 after buying an additional 19,116 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other 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.