Barclays Boosts Performance Food Group (NYSE:PFGC) Price Target to $98.00

Performance Food Group (NYSE:PFGC) had its price objective hoisted by Barclays from $88.00 to $98.00 in a research note released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the food distribution company’s stock.

Several other analysts have also commented on the stock. BMO Capital Markets raised their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Truist Financial raised their price target 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, August 15th. Morgan Stanley dropped their price target 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. Jefferies Financial Group raised their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.88.

Performance Food Group Trading Up 0.4 %

Shares of Performance Food Group stock opened at $81.86 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a fifty day moving average price of $76.74 and a 200 day moving average price of $71.07. Performance Food Group has a 1 year low of $54.71 and a 1 year high of $83.70. The stock has a market cap of $12.76 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. Equities research analysts predict that Performance Food Group will post 4.88 earnings per share for the current year.

Insider Activity

In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 over the last three months. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors increased its holdings in shares of Performance Food Group by 0.5% during the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock worth $1,606,782,000 after buying an additional 100,244 shares during the last quarter. Eminence Capital LP grew its position in Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after acquiring an additional 164,472 shares during the period. Jennison Associates LLC increased its stake in Performance Food Group by 2.5% during the first quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock worth $175,383,000 after acquiring an additional 56,242 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Performance Food Group by 27.8% in the 2nd 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 last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.