Performance Food Group Company (NYSE:PFGC) Stock Has Average Price Target of $126.00

Performance Food Group Company (NYSE:PFGC) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $126.00.

PFGC has been the subject of several research analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Citigroup boosted their price target on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, August 13th. UBS Group reduced their price objective on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Morgan Stanley lifted their price objective on shares of Performance Food Group from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th.

Insiders Place Their Bets

In related news, insider Donald Bulmer sold 1,353 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $142,457.37. Following the completion of the transaction, the insider owned 52,938 shares in the company, valued at $5,573,842.02. The trade was a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chasity D. Grosh sold 1,005 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $92.40, for a total value of $92,862.00. Following the transaction, the insider owned 5,783 shares of the company’s stock, valued at $534,349.20. This represents a 14.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 41,459 shares of company stock worth $4,317,917. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of PFGC. BlackRock Inc. acquired a new position in shares of Performance Food Group during the second quarter valued at approximately $1,576,983,000. Primecap Management Co. CA acquired a new position in shares of Performance Food Group in the 2nd quarter valued at $305,064,000. Bank of New York Mellon Corp acquired a new stake in shares of Performance Food Group during the second quarter valued at approximately $105,756,000. TimesSquare Capital Management LLC acquired a new stake in shares of Performance Food Group during the second quarter valued at approximately $94,236,000. Finally, Bank of America Corp DE purchased a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $78,474,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Down 0.2%

Shares of Performance Food Group stock opened at $96.09 on Monday. The business has a 50-day moving average of $95.99 and a 200-day moving average of $97.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The company has a market capitalization of $15.14 billion, a PE ratio of 41.96, a P/E/G ratio of 1.22 and a beta of 0.87. Performance Food Group has a 1-year low of $80.82 and a 1-year high of $117.47.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The business had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, equities analysts forecast that Performance Food Group will post 5.58 EPS for the current fiscal year.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.