Morgan Stanley Boosts Performance Food Group (NYSE:PFGC) Price Target to $80.00

Performance Food Group (NYSE:PFGC) had its target price upped by Morgan Stanley from $78.00 to $80.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the food distribution company’s stock.

A number of other brokerages have also recently weighed in on PFGC. Barclays boosted their price objective on shares of Performance Food Group from $78.00 to $86.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. StockNews.com upgraded shares of Performance Food Group from a hold rating to a buy rating in a research note on Thursday, February 8th. BMO Capital Markets boosted their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, Stephens boosted their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $81.25.

Performance Food Group Price Performance

NYSE PFGC opened at $69.02 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $10.74 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. The company has a 50 day moving average price of $74.34 and a two-hundred day moving average price of $67.79. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. Performance Food Group’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 earnings per share. As a group, equities analysts predict that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Performance Food Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bridge City Capital LLC increased its holdings in Performance Food Group by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 61,439 shares of the food distribution company’s stock valued at $4,586,000 after buying an additional 469 shares during the period. &PARTNERS increased its holdings in Performance Food Group by 3.5% in the 1st quarter. &PARTNERS now owns 22,113 shares of the food distribution company’s stock valued at $1,651,000 after buying an additional 747 shares during the period. BTC Capital Management Inc. bought a new stake in Performance Food Group in the 1st quarter valued at $378,000. Rise Advisors LLC bought a new stake in Performance Food Group in the 1st quarter valued at $29,000. Finally, Mather Group LLC. bought a new stake in Performance Food Group in the 1st quarter valued at $44,000. Institutional investors own 96.87% of the company’s stock.

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.