Morgan Stanley Increases Performance Food Group (NYSE:PFGC) Price Target to $96.00

Performance Food Group (NYSE:PFGC) had its price objective lifted by investment analysts at Morgan Stanley from $94.00 to $96.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the food distribution company’s stock. Morgan Stanley’s price target would indicate a potential upside of 9.39% from the stock’s previous close.

Several other equities research analysts have also commented on PFGC. Wells Fargo & Company boosted their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets boosted their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Truist Financial raised their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Melius began coverage on Performance Food Group in a research note on Wednesday, December 18th. They set a “hold” rating and a $95.00 price objective for the company. Finally, UBS Group raised their target price on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.67.

Performance Food Group Price Performance

NYSE:PFGC opened at $87.76 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The stock’s 50-day moving average price is $86.37 and its 200-day moving average price is $78.27. The stock has a market capitalization of $13.67 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 0.94 and a beta of 1.43.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. As a group, equities analysts expect that Performance Food Group will post 4.74 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PFGC. Blue Trust Inc. boosted its stake in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after buying an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Performance Food Group in the 3rd quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its position in shares of Performance Food Group by 203.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after purchasing an additional 274 shares during the period. UMB Bank n.a. increased its holdings in Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Performance Food Group in the third quarter valued at approximately $36,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.