Guggenheim Forecasts Strong Price Appreciation for Performance Food Group (NYSE:PFGC) Stock

Performance Food Group (NYSE:PFGC) had its price target raised by Guggenheim from $90.00 to $95.00 in a research report sent to investors on Thursday,Benzinga reports. Guggenheim currently has a buy rating on the food distribution company’s stock.

Other equities analysts have also issued reports about the stock. Barclays upped their price target on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. BMO Capital Markets boosted their price objective on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley reiterated an “equal weight” rating and set a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Finally, UBS Group boosted their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.50.

Performance Food Group Stock Performance

Shares of NYSE PFGC traded up $0.63 during midday trading on Thursday, hitting $85.96. 1,453,407 shares of the stock traded hands, compared to its average volume of 1,028,922. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.70. Performance Food Group has a one year low of $59.35 and a one year high of $89.00. The firm has a market capitalization of $13.40 billion, a P/E ratio of 31.72, a PEG ratio of 0.88 and a beta of 1.44. The firm has a 50-day moving average of $78.39 and a two-hundred day moving average of $71.94.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 earnings per share. On average, equities analysts forecast that Performance Food Group will post 4.84 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 149,863 shares in the company, valued at $11,185,774.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction that occurred 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 owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the insider now owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock valued at $7,426,075 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds have recently added to or reduced their stakes in PFGC. Blue Trust Inc. lifted its stake in Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Performance Food Group in the third quarter worth approximately $26,000. Venturi Wealth Management LLC raised its holdings in shares of Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares during the period. UMB Bank n.a. boosted its holdings in Performance Food Group by 414.8% during 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 period. Finally, Innealta Capital LLC purchased a new position in Performance Food Group during the 2nd quarter valued at $30,000. 96.87% of the stock is currently owned by institutional investors.

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.