Performance Food Group (NYSE:PFGC) Price Target Raised to $95.00 at BMO Capital Markets

Performance Food Group (NYSE:PFGC) had its target price boosted by BMO Capital Markets from $87.00 to $95.00 in a research report released on Thursday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the food distribution company’s stock.

A number of other research firms also recently issued reports on PFGC. Jefferies Financial Group lifted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research report on Monday, October 28th. Barclays increased their price objective on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group upped their price target on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.50.

Performance Food Group Trading Up 0.7 %

PFGC traded up $0.63 during trading on Thursday, hitting $85.96. The company’s stock had a trading volume of 1,453,407 shares, compared to its average volume of 1,028,922. The stock’s fifty day moving average price is $78.39 and its 200-day moving average price is $71.94. 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 company has a quick ratio of 0.76, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a twelve month low of $59.35 and a twelve month high of $89.00.

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

Insiders Place Their Bets

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Scott E. Mcpherson sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $11,185,774.32. This represents 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 this hyperlink. Also, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,500 shares of company stock valued at $7,426,075. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Several large investors have recently made changes to their positions in PFGC. Primecap Management Co. CA increased its position in Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Performance Food Group by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after acquiring an additional 469,500 shares during the last quarter. Point72 Asset Management L.P. raised its position in Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after purchasing an additional 372,218 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Performance Food Group by 166.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock worth $21,588,000 after purchasing an additional 171,953 shares during the period. Finally, Eminence Capital LP raised its holdings in Performance Food Group by 7.4% during the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after buying an additional 164,472 shares during the period. 96.87% of the stock is 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.