Performance Food Group (NYSE:PFGC) Receives $94.27 Average Price Target from Brokerages

Performance Food Group (NYSE:PFGC) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $94.27.

Several research firms have recently issued reports on PFGC. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Barclays increased their target price on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. BMO Capital Markets upped their target price on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th.

Insider Buying and Selling

In other news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in Performance Food Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 224,467 shares of the food distribution company’s stock valued at $18,305,000 after purchasing an additional 2,417 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Performance Food Group in the 3rd quarter valued at approximately $154,000. World Investment Advisors LLC acquired a new stake in Performance Food Group in the 3rd quarter worth approximately $2,185,000. Coldstream Capital Management Inc. grew its holdings in Performance Food Group by 3.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company’s stock valued at $329,000 after purchasing an additional 142 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Performance Food Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company’s stock valued at $202,803,000 after purchasing an additional 36,385 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 0.2 %

PFGC stock opened at $87.91 on Monday. The company has a fifty day moving average price of $82.09 and a 200 day moving average price of $73.69. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $89.73.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts expect that Performance Food Group will post 4.73 earnings per share for the current year.

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.