Performance Food Group (NYSE:PFGC) Price Target Raised to $88.00

Performance Food Group (NYSE:PFGC) had its target price upped by Wells Fargo & Company from $83.00 to $88.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the food distribution company’s stock.

Several other research analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on Performance Food Group from $80.00 to $76.00 and set an equal weight rating for the company in a research note on Tuesday, July 16th. StockNews.com raised shares of Performance Food Group from a hold rating to a buy rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the company an outperform rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a buy rating in a research report on Thursday, August 15th. Finally, Barclays increased their price objective on Performance Food Group from $84.00 to $88.00 and gave the company an overweight rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $87.63.

Performance Food Group Price Performance

NYSE PFGC opened at $81.18 on Wednesday. The firm’s fifty day simple moving average is $74.08 and its two-hundred day simple moving average is $70.59. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $81.32. The firm has a market capitalization of $12.65 billion, a P/E ratio of 29.10, a P/E/G ratio of 0.88 and a beta of 1.45. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping the consensus estimate 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 business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts forecast that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kimberly Grant sold 4,000 shares of the stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Performance Food Group news, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 owns 149,863 shares in the company, valued at $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,500 shares of company stock valued at $7,426,075. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Performance Food Group during the 1st quarter worth approximately $29,000. Innealta Capital LLC acquired a new position in shares of Performance Food Group during the 2nd quarter worth about $30,000. UMB Bank n.a. increased its holdings in shares of Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Performance Food Group during the 1st quarter worth about $44,000. Finally, GAMMA Investing LLC lifted its stake in Performance Food Group by 65.2% during the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors 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.