Performance Food Group (NYSE:PFGC) PT Raised to $88.00 at Barclays

Performance Food Group (NYSE:PFGC) had its target price increased by Barclays from $84.00 to $88.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the food distribution company’s stock.

A number of other brokerages have also issued reports on PFGC. BMO Capital Markets raised their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an outperform rating in a report on Thursday. StockNews.com cut shares of Performance Food Group from a buy rating to a hold rating in a report on Monday, August 12th. Morgan Stanley decreased their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. Finally, Truist Financial lifted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the company a buy rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $86.38.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $73.48 on Thursday. The company has a market cap of $11.43 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.42. The company has a quick ratio of 0.77, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $66.55 and a 200-day moving average price of $70.34. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Performance Food Group will post 4.9 earnings per share for the current fiscal year.

Institutional Trading of Performance Food Group

A number of institutional investors and hedge funds have recently made changes to their positions in PFGC. GAMMA Investing LLC purchased a new position in shares of Performance Food Group during the 4th quarter worth approximately $29,000. Rise Advisors LLC purchased a new stake in Performance Food Group in the first quarter valued at $29,000. Innealta Capital LLC purchased a new position in shares of Performance Food Group during the second quarter worth approximately $30,000. Signaturefd LLC increased its position in Performance Food Group by 38.8% in the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock valued at $35,000 after acquiring an additional 143 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Performance Food Group in the 1st quarter worth $44,000. 96.87% of the stock is currently owned by hedge funds and other 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.