Performance Food Group (NYSE:PFGC) Receives $86.38 Consensus Price Target from Brokerages

Shares of Performance Food Group (NYSE:PFGC) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $86.38.

Several brokerages recently issued reports on PFGC. BMO Capital Markets increased their price objective on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley cut their price target on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group increased their price objective on Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Truist Financial boosted their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th.

Performance Food Group Stock Performance

Shares of PFGC opened at $75.86 on Wednesday. The company has a 50-day moving average of $69.59 and a two-hundred day moving average of $70.25. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 0.80 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. Performance Food Group has a one year low of $52.92 and a one year high of $78.54.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. On average, equities research analysts expect that Performance Food Group will post 4.87 earnings per share for the current year.

Insider Transactions at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimberly Grant sold 4,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Performance Food Group

Several institutional investors have recently bought and sold shares of PFGC. Capital World Investors boosted its stake in shares of Performance Food Group by 0.5% in the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock valued at $1,606,782,000 after purchasing an additional 100,244 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Performance Food Group by 2.1% in the fourth quarter. Clearbridge Investments LLC now owns 6,484,836 shares of the food distribution company’s stock valued at $448,426,000 after acquiring an additional 136,141 shares during the last quarter. Wellington Management Group LLP increased its holdings in Performance Food Group by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after purchasing an additional 397,114 shares in the last quarter. Eminence Capital LP raised its position in Performance Food Group by 7.4% in the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after purchasing an additional 164,472 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Performance Food Group by 2.5% in the first quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock worth $175,383,000 after purchasing an additional 56,242 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.