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

Performance Food Group (NYSE:PFGC) had its price target boosted by investment analysts at Barclays from $88.00 to $98.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the food distribution company’s stock. Barclays‘s target price would suggest a potential upside of 20.25% from the company’s current price.

A number of other equities research analysts have also issued reports on PFGC. Wells Fargo & Company increased their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley decreased their target price on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. 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 report on Thursday, August 15th. Finally, StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.88.

Performance Food Group Stock Down 1.2 %

PFGC opened at $81.50 on Tuesday. Performance Food Group has a 1 year low of $54.71 and a 1 year high of $83.70. The firm has a 50 day moving average price of $76.74 and a 200 day moving average price of $71.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The company has a market cap of $12.68 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data 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 company had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. Sell-side analysts expect that Performance Food Group will post 4.88 earnings per share for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 162,987 shares in the company, valued at $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,500 shares of company stock worth $7,426,075. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in Performance Food Group by 1.2% during the 3rd quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock valued at $916,000 after purchasing an additional 140 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Performance Food Group by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock worth $469,000 after acquiring an additional 160 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Performance Food Group by 4.3% in the 2nd quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock worth $289,000 after acquiring an additional 179 shares during the period. Cetera Investment Advisers lifted its position in Performance Food Group by 0.4% in the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock valued at $3,044,000 after purchasing an additional 186 shares during the last quarter. Finally, Hanlon Investment Management Inc. boosted its stake in Performance Food Group by 1.4% during the 1st quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock valued at $1,046,000 after purchasing an additional 194 shares during the period. 96.87% of the stock is owned by institutional investors.

Performance Food Group Company Profile

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.