Performance Food Group (NYSE:PFGC) Price Target Raised to $110.00

Performance Food Group (NYSE:PFGC) had its target price raised by UBS Group from $103.00 to $110.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the food distribution company’s stock.

Several other research firms also recently commented on PFGC. Truist Financial dropped their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Citigroup initiated coverage on shares of Performance Food Group in a report on Thursday, May 22nd. They issued a “buy” rating and a $121.00 price objective on the stock. Barclays upped their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley upped their price target on shares of Performance Food Group from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.08.

Performance Food Group Stock Up 0.3%

Performance Food Group stock opened at $89.58 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The business’s 50-day simple moving average is $80.86 and its two-hundred day simple moving average is $83.57. The company has a market cap of $13.98 billion, a PE ratio of 36.12, a PEG ratio of 0.96 and a beta of 1.13. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Performance Food Group’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. Equities analysts anticipate that Performance Food Group will post 4.58 EPS for the current year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider A Brent King sold 12,866 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the transaction, the insider now directly owns 60,952 shares of the company’s stock, valued at $5,486,899.04. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Erika T. Davis sold 8,200 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the transaction, the insider now directly owns 46,722 shares in the company, valued at $4,191,897.84. This represents a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,568 shares of company stock valued at $5,747,713 in the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in shares of Performance Food Group in the first quarter valued at approximately $7,524,000. Woodline Partners LP purchased a new position in shares of Performance Food Group in the first quarter valued at approximately $20,030,000. Empowered Funds LLC purchased a new position in Performance Food Group in the 1st quarter valued at $359,000. Coppell Advisory Solutions LLC lifted its holdings in Performance Food Group by 10,786.7% in the 1st quarter. Coppell Advisory Solutions LLC now owns 9,036 shares of the food distribution company’s stock valued at $711,000 after purchasing an additional 8,953 shares in the last quarter. Finally, Aristeia Capital L.L.C. lifted its holdings in Performance Food Group by 30.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 5,070 shares of the food distribution company’s stock valued at $399,000 after purchasing an additional 1,189 shares in 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.