Performance Food Group Company (NYSE:PFGC) Receives $123.09 Consensus Price Target from Brokerages

Shares of Performance Food Group Company (NYSE:PFGC) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $123.8182.

A number of brokerages have recently commented on PFGC. TD Cowen initiated coverage on shares of Performance Food Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $128.00 price target for the company. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Guggenheim raised their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Citigroup lifted their target price on shares of Performance Food Group from $135.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th.

Insider Transactions at Performance Food Group

In other news, insider A Brent King sold 6,111 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares of the company’s stock, valued at $4,647,300. This represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares in the company, valued at $1,133,825. This trade represents a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,187 shares of company stock worth $3,027,315 in the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Trading of Performance Food Group

Large investors have recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC bought a new position in Performance Food Group in the first quarter worth approximately $28,000. Asset Planning Inc purchased a new position in shares of Performance Food Group during the 1st quarter worth $35,000. Torren Management LLC bought a new stake in shares of Performance Food Group during the 4th quarter valued at $41,000. Lloyd Advisory Services LLC. bought a new stake in shares of Performance Food Group during the 4th quarter valued at $43,000. Finally, Clearstead Advisors LLC increased its stake in shares of Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock worth $53,000 after purchasing an additional 335 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Price Performance

NYSE PFGC opened at $111.45 on Friday. Performance Food Group has a one year low of $80.82 and a one year high of $116.42. The stock has a 50-day moving average of $104.68 and a 200 day moving average of $95.86. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 53.07, a PEG ratio of 1.38 and a beta of 0.91. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.Performance Food Group’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts forecast that Performance Food Group will post 4.57 EPS for the current year.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.