Performance Food Group (NYSE:PFGC) Receives $80.57 Consensus Target Price from Brokerages

Performance Food Group (NYSE:PFGC) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $80.57.

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. Finally, Barclays reduced their price target on shares of Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, May 9th.

Performance Food Group Price Performance

Performance Food Group stock opened at $66.33 on Tuesday. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 0.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.77. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The firm has a 50-day moving average of $67.16 and a two-hundred day moving average of $70.68.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. Performance Food Group’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. On average, research analysts forecast that Performance Food Group will post 4.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in shares of Performance Food Group by 38.8% in the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock valued at $35,000 after acquiring an additional 143 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Performance Food Group by 23.0% in the 4th quarter. Fifth Third Bancorp now owns 1,010 shares of the food distribution company’s stock valued at $70,000 after acquiring an additional 189 shares during the last quarter. Hanlon Investment Management Inc. boosted its holdings 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 valued at $1,046,000 after acquiring an additional 194 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Performance Food Group by 1.9% in the 1st quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after acquiring an additional 200 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Performance Food Group by 5.8% in the 1st quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock valued at $317,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

About Performance Food Group

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.