Performance Food Group (NYSE:PFGC) Price Target Cut to $130.00 by Analysts at UBS Group

Performance Food Group (NYSE:PFGC) had its price target cut by UBS Group from $132.00 to $130.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the food distribution company’s stock.

PFGC has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday, June 24th. Guggenheim upped their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 target price on shares of Performance Food Group in a report on Thursday. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday. Finally, TD Cowen decreased their target price on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Performance Food Group Price Performance

PFGC stock opened at $107.07 on Friday. The business has a fifty day moving average of $109.79 and a two-hundred day moving average of $97.96. Performance Food Group has a 52-week low of $80.82 and a 52-week high of $117.47. The company has a quick ratio of 0.68, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 46.76, a price-to-earnings-growth ratio of 1.33 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. Performance Food Group’s revenue was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that Performance Food Group will post 5.64 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In related news, insider A Brent King sold 6,111 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the sale, the insider directly owned 44,260 shares of the company’s stock, valued at $4,647,300. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erika T. Davis sold 2,595 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $110.00, for a total transaction of $285,450.00. Following the sale, the insider directly owned 40,446 shares in the company, valued at $4,449,060. This trade represents a 6.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,187 shares of company stock valued at $2,743,695 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new position in Performance Food Group in the 1st quarter valued at about $28,000. Asset Planning Inc purchased a new stake in Performance Food Group during the first quarter valued at about $35,000. Torren Management LLC purchased a new position in shares of Performance Food Group in the fourth quarter worth approximately $41,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $51,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Performance Food Group in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

About Performance Food Group

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.