Performance Food Group’s (PFGC) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Performance Food Group (NYSE:PFGC) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has a $92.00 price target on the food distribution company’s stock.

A number of other equities research analysts have also commented on PFGC. BMO Capital Markets upped their target price on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial boosted their target price on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group increased their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price objective on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.88.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $82.05 on Monday. The firm has a market capitalization of $12.79 billion, a P/E ratio of 29.41, a PEG ratio of 0.83 and a beta of 1.45. Performance Food Group has a 52 week low of $55.15 and a 52 week high of $83.70. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average price of $77.26 and a 200 day moving average price of $71.30.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 earnings per share. Sell-side analysts expect that Performance Food Group will post 4.88 EPS for the current year.

Insider Activity

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction on 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 in the company, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of PFGC. Creative Planning lifted its stake in Performance Food Group by 1.2% in the 3rd quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock worth $916,000 after purchasing an additional 140 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Performance Food Group by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock worth $469,000 after buying an additional 160 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Performance Food Group by 4.3% during the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock worth $289,000 after buying an additional 179 shares during the last quarter. Cetera Investment Advisers grew its holdings in Performance Food Group by 0.4% in the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock valued at $3,044,000 after buying an additional 186 shares in the last quarter. Finally, Hanlon Investment Management Inc. increased its stake in shares of Performance Food Group by 1.4% in the 1st quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock worth $1,046,000 after acquiring an additional 194 shares during 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.