Performance Food Group (NYSE:PFGC) Given New $92.00 Price Target at Piper Sandler

Performance Food Group (NYSE:PFGC) had its price target upped by Piper Sandler from $79.00 to $92.00 in a report issued on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the food distribution company’s stock.

Several other equities research analysts have also recently issued reports on PFGC. Jefferies Financial Group raised their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays raised their price target 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. Finally, Morgan Stanley restated an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group Price Performance

Performance Food Group stock opened at $83.48 on Monday. Performance Food Group has a 12-month low of $61.40 and a 12-month high of $89.00. The stock has a market capitalization of $13.01 billion, a P/E ratio of 30.80, a P/E/G ratio of 0.90 and a beta of 1.44. The firm’s 50-day moving average is $80.06 and its two-hundred day moving average is $72.79. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same period in the prior year, the business earned $1.15 earnings per share. Performance Food Group’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts predict that Performance Food Group will post 4.71 earnings per share for the current year.

Insider Activity

In related news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the sale, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. This represents a 28.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,000 shares of company stock valued at $2,756,920. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after purchasing an additional 242 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Performance Food Group in the third quarter worth about $26,000. Innealta Capital LLC bought a new stake in Performance Food Group in the second quarter worth about $30,000. Venturi Wealth Management LLC raised its position in Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after acquiring an additional 274 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after acquiring an additional 365 shares in the last quarter. 96.87% of the stock is currently owned by 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.