Performance Food Group Company (NYSE:PFGC) Stock Has Average Target Price of $126.00 According to Brokerages

Shares of Performance Food Group Company (NYSE:PFGC) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $126.00.

Several analysts have recently commented on the company. TD Cowen decreased their price objective on Performance Food Group from $115.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 15th. Citigroup boosted their target price on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Wells Fargo & Company upped their target price on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. UBS Group decreased their price target on Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings downgraded Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th.

Performance Food Group Trading Down 0.0%

PFGC stock opened at $99.04 on Monday. Performance Food Group has a twelve month low of $80.82 and a twelve month high of $117.47. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 43.25, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91. The firm’s fifty day simple moving average is $95.77 and its two-hundred day simple moving average is $97.41.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.11 billion. During the same period last year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts anticipate that Performance Food Group will post 5.58 earnings per share for the current year.

Insider Activity at Performance Food Group

In related news, insider Donald Bulmer sold 10,535 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $105.90, for a total value of $1,115,656.50. Following the completion of the transaction, the insider directly owned 54,291 shares of the company’s stock, valued at $5,749,416.90. This trade represents a 16.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider A. King sold 8,023 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total transaction of $836,076.83. Following the sale, the insider directly owned 47,800 shares in the company, valued at approximately $4,981,238. This represents a 14.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 41,459 shares of company stock worth $4,317,917. 2.10% of the stock is owned by insiders.

Institutional Trading of Performance Food Group

Several large investors have recently added to or reduced their stakes in PFGC. BlackRock Inc. acquired a new stake in shares of Performance Food Group in the second quarter valued at $1,576,983,000. Corient Private Wealth LP acquired a new position in shares of Performance Food Group during the second quarter worth $3,533,000. Engineers Gate Manager LP grew its stake in shares of Performance Food Group by 77.2% during the second quarter. Engineers Gate Manager LP now owns 384,143 shares of the food distribution company’s stock worth $42,943,000 after purchasing an additional 167,361 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Performance Food Group by 30.9% in the fourth quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock valued at $4,408,000 after buying an additional 11,569 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Performance Food Group in the second quarter valued at $7,460,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.