Performance Food Group (NYSE:PFGC) Given New $141.00 Price Target at Citigroup

Performance Food Group (NYSE:PFGC) had its price target upped by stock analysts at Citigroup from $127.00 to $141.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the food distribution company’s stock. Citigroup‘s target price points to a potential upside of 31.29% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $133.00 target price on shares of Performance Food Group in a report on Thursday, August 13th. Sanford C. Bernstein lifted their target price on Performance Food Group from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group increased their target price on shares of Performance Food Group from $130.00 to $133.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Finally, Wells Fargo & Company boosted their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus target price of $128.40.

Performance Food Group Trading Down 2.1%

Shares of NYSE:PFGC traded down $2.29 during mid-day trading on Friday, reaching $107.39. 2,930,214 shares of the company’s stock were exchanged, compared to its average volume of 1,879,580. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 1.41 and a beta of 0.91. The business’s fifty day moving average price is $95.73 and its 200-day moving average price is $97.58. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 1.61. Performance Food Group has a twelve month low of $80.82 and a twelve month high of $117.47.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 4th. The food distribution company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. Performance Food Group had a return on equity of 15.25% and a net margin of 0.57%. The business had revenue of $18.02 billion during the quarter, compared to analyst estimates of $18.02 billion. During the same period last year, the company earned $0.60 EPS. Performance Food Group’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts predict that Performance Food Group will post 5.58 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other news, insider Donald Bulmer sold 1,353 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $142,457.37. Following the completion of the transaction, the insider directly owned 52,938 shares in the company, valued at approximately $5,573,842.02. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider A. King sold 1,320 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the transaction, the insider directly owned 44,216 shares of the company’s stock, valued at approximately $4,655,502.64. This trade represents a 2.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,459 shares of company stock worth $4,317,917. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Performance Food Group in the second quarter worth $1,576,983,000. Primecap Management Co. CA bought a new position in Performance Food Group during the second quarter valued at $305,064,000. Dimensional Fund Advisors LP increased its position in Performance Food Group by 32.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock valued at $215,418,000 after acquiring an additional 619,572 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Performance Food Group in the second quarter valued at $105,756,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Performance Food Group in the second quarter valued at $94,236,000. 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.