Performance Food Group (NYSE:PFGC) Price Target Increased to $47.00 by Analysts at Barclays

Performance Food Group (NYSE:PFGC) had its target price lifted by Barclays from $44.00 to $47.00 in a report released on Thursday morning, Stock Target Advisor reports. Barclays currently has an equal weight rating on the food distribution company’s stock.

A number of other brokerages have also weighed in on PFGC. Bank of America lifted their price objective on Performance Food Group from $45.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price objective on Performance Food Group to $52.00 and gave the stock an outperform rating in a research report on Thursday, August 15th. Loop Capital lifted their price objective on Performance Food Group to $50.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Zacks Investment Research upgraded Performance Food Group from a sell rating to a hold rating in a research report on Friday. Finally, Guggenheim reiterated a buy rating and issued a $50.00 price objective (up from $46.00) on shares of Performance Food Group in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $48.10.

Shares of PFGC 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. The stock 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. Performance Food Group has a one year low of $30.07 and a one year high of $47.26. The firm’s fifty day simple moving average is $44.07 and its 200 day simple moving average is $42.74. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 1.03.

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

In related news, insider Patrick T. Hagerty sold 7,000 shares of Performance Food Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.57, for a total transaction of $325,990.00. Following the sale, the insider now directly owns 138,406 shares in the company, valued at $6,445,567.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine R. Vlahcevic sold 7,879 shares of Performance Food Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $45.27, for a total value of $356,682.33. Following the sale, the insider now 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 90 days. 3.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFGC. NEXT Financial Group Inc raised its stake in Performance Food Group by 12.9% during the second quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after buying an additional 242 shares during the last quarter. Renaissance Group LLC raised its stake in Performance Food Group by 2.3% during the third quarter. Renaissance Group LLC now owns 12,023 shares of the food distribution company’s stock valued at $553,000 after buying an additional 270 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Performance Food Group by 3.9% during the second quarter. State of Alaska Department of Revenue now owns 8,789 shares of the food distribution company’s stock valued at $351,000 after buying an additional 328 shares during the last quarter. Bessemer Group Inc. raised its stake in Performance Food Group by 0.3% during the second quarter. Bessemer Group Inc. now owns 118,500 shares of the food distribution company’s stock valued at $4,744,000 after buying an additional 400 shares during the last quarter. Finally, Zeke Capital Advisors LLC raised its stake in Performance Food Group by 3.0% during the second quarter. Zeke Capital Advisors LLC now owns 14,017 shares of the food distribution company’s stock valued at $561,000 after buying an additional 409 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

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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