Performance Food Group (NYSE:PFGC) Price Target Increased to $98.00 by Analysts at Barclays

Performance Food Group (NYSE:PFGC) had its price target boosted by Barclays from $88.00 to $98.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the food distribution company’s stock.

A number of other analysts have also issued reports on the stock. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Truist Financial boosted their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group boosted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.88.

Performance Food Group Trading Up 0.4 %

NYSE PFGC opened at $81.86 on Tuesday. The firm’s 50-day moving average is $76.74 and its two-hundred day moving average is $71.07. Performance Food Group has a 12 month low of $54.71 and a 12 month high of $83.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The stock has a market capitalization of $12.76 billion, a P/E ratio of 29.34, a PEG ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. Performance Food Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Performance Food Group will post 4.88 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,500 shares of company stock worth $7,426,075. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its holdings in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after acquiring an additional 1,122,676 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after acquiring an additional 372,218 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Performance Food Group by 166.1% in the third quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock valued at $21,588,000 after acquiring an additional 171,953 shares during the period. Finally, Eminence Capital LP boosted its holdings in shares of Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after acquiring an additional 164,472 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

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.