Performance Food Group (NYSE:PFGC) Given New $92.00 Price Target at Piper Sandler

Performance Food Group (NYSE:PFGC) had its target price boosted by stock analysts at Piper Sandler from $79.00 to $92.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the food distribution company’s stock. Piper Sandler’s price target indicates a potential upside of 10.64% from the company’s current price.

A number of other equities analysts have also recently issued reports on PFGC. UBS Group raised their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Guggenheim raised their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price target on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.27.

Performance Food Group Trading Down 0.1 %

Shares of Performance Food Group stock traded down $0.05 during trading hours on Monday, reaching $83.15. 158,507 shares of the company’s stock were exchanged, compared to its average volume of 1,027,131. Performance Food Group has a 52-week low of $61.40 and a 52-week high of $89.00. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. The company has a fifty day moving average of $80.06 and a 200-day moving average of $72.79. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. Sell-side analysts forecast that Performance Food Group will post 4.71 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, Director Kimberly Grant sold 4,000 shares of the business’s 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 sale, the director now directly owns 10,184 shares of the company’s stock, valued at $749,644.24. The trade was a 28.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. This trade represents a 14.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,000 shares of company stock worth $2,756,920. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Institutional investors and hedge funds have recently modified their holdings of the business. Atria Investments Inc raised its stake in shares of Performance Food Group by 79.3% during the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after buying an additional 12,919 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Performance Food Group in the second quarter valued at approximately $6,843,000. Aigen Investment Management LP increased its stake in Performance Food Group by 56.1% in the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock valued at $1,330,000 after purchasing an additional 6,099 shares in the last quarter. Magnetar Financial LLC bought a new stake in Performance Food Group in the first quarter valued at approximately $1,913,000. Finally, Dimensional Fund Advisors LP increased its stake in Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after purchasing an additional 469,500 shares in the last quarter. 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.