Performance Food Group (NYSE:PFGC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Performance Food Group (NYSE:PFGC) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $95.73.

Several equities research analysts have weighed in on PFGC shares. Barclays lowered their price objective on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Melius Research raised Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Morgan Stanley lifted their target price on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Melius initiated coverage on Performance Food Group in a research note on Wednesday, December 18th. They set a “hold” rating and a $95.00 price target on the stock.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after acquiring an additional 401,235 shares during the last quarter. State Street Corp grew its holdings in Performance Food Group by 2.2% during the third quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after purchasing an additional 97,069 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in Performance Food Group in the third quarter valued at approximately $2,772,000. Assenagon Asset Management S.A. raised its holdings in Performance Food Group by 134.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after purchasing an additional 371,078 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Performance Food Group by 8.1% during the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock worth $141,003,000 after purchasing an additional 125,532 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 3.5 %

NYSE PFGC opened at $73.39 on Friday. The stock’s 50 day simple moving average is $82.19 and its 200 day simple moving average is $83.46. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The firm has a market cap of $11.46 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. As a group, sell-side analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

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.