Performance Food Group’s (PFGC) “Equal Weight” Rating Reiterated at Morgan Stanley

Performance Food Group (NYSE:PFGC)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a note issued to investors on Monday, Benzinga reports. They presently have a $92.00 price target on the food distribution company’s stock. Morgan Stanley’s price target suggests a potential upside of 11.45% from the company’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets boosted their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Barclays boosted their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group raised their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and an average price target of $90.88.

Performance Food Group Trading Up 0.8 %

Shares of NYSE PFGC opened at $82.55 on Monday. Performance Food Group has a fifty-two week low of $54.71 and a fifty-two week high of $83.70. The firm has a market capitalization of $12.85 billion, a P/E ratio of 30.80, a P/E/G ratio of 0.83 and a beta of 1.45. 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 company’s 50 day simple moving average is $77.10 and its 200 day simple moving average is $71.23.

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 for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Performance Food Group will post 4.88 EPS for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction dated 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 sale, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the sale, the insider now owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,500 shares of company stock valued at $7,426,075. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its stake in shares of Performance Food Group by 223.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 acquiring an additional 469,500 shares during the last quarter. Point72 Asset Management L.P. grew its position 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 acquiring an additional 372,218 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Performance Food Group by 166.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock valued at $21,588,000 after acquiring an additional 171,953 shares during the period. Finally, Eminence Capital LP increased its stake in shares of Performance Food Group by 7.4% during the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after purchasing an additional 164,472 shares during the last quarter. 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.