Performance Food Group (NYSE:PFGC) Stock Price Expected to Rise, UBS Group Analyst Says

Performance Food Group (NYSE:PFGC) had its price objective hoisted by UBS Group from $98.00 to $102.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the food distribution company’s stock.

Several other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets upped 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. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

Performance Food Group Trading Up 0.8 %

Shares of PFGC stock traded up $0.67 during trading hours on Thursday, reaching $86.00. 646,398 shares of the stock traded hands, compared to its average volume of 1,025,203. Performance Food Group has a 1-year low of $59.35 and a 1-year high of $89.00. The business has a fifty day moving average price of $78.39 and a 200 day moving average price of $71.94. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $13.40 billion, a PE ratio of 30.60, a PEG ratio of 0.81 and a beta of 1.44.

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 analysts’ consensus estimates of $1.21 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 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 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 EPS. On average, equities research analysts forecast that Performance Food Group will post 4.87 EPS for the current year.

Insider Activity at Performance Food Group

In related news, insider Scott E. Mcpherson sold 25,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 149,863 shares in the company, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred 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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares of the company’s stock, 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. Insiders sold a total of 100,500 shares of company stock worth $7,426,075 in the last ninety days. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds have recently modified their holdings of PFGC. Primecap Management Co. CA raised its holdings in shares of Performance Food Group by 223.4% in 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 buying an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Performance Food Group by 27.9% during the 2nd 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 in the last quarter. Point72 Asset Management L.P. increased its holdings in Performance Food Group by 27.8% during 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in Performance Food Group by 166.1% during 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 purchasing an additional 171,953 shares in the last quarter. Finally, Eminence Capital LP increased its holdings in 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 valued at $158,572,000 after purchasing an additional 164,472 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

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.