Performance Food Group (NYSE:PFGC) had its price objective raised by BMO Capital Markets to $48.00 in a report published on Friday morning, The Fly reports. BMO Capital Markets currently has a positive rating on the food distribution company’s stock.
A number of other analysts also recently issued reports on PFGC. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Loop Capital set a $48.00 price target on shares of Performance Food Group and gave the stock a buy rating in a report on Friday, July 5th. Finally, Bank of America reiterated a buy rating and issued a C$10.00 target price on shares of Hexo in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Performance Food Group has a consensus rating of Buy and an average price target of $41.64.
Shares of NYSE PFGC opened at $43.40 on Friday. The business’s 50 day moving average price is $40.49. The firm has a market cap of $4.55 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.45 and a quick ratio of 0.75. Performance Food Group has a 1 year low of $28.05 and a 1 year high of $43.78.
Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.67 billion. Performance Food Group had a return on equity of 14.91% and a net margin of 0.91%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, equities research analysts forecast that Performance Food Group will post 1.78 earnings per share for the current fiscal year.
In other Performance Food Group news, insider Patrick T. Hagerty sold 7,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $40.85, for a total value of $304,332.50. Following the completion of the transaction, the insider now owns 169,006 shares of the company’s stock, valued at approximately $6,903,895.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick T. Hagerty sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $40.22, for a total transaction of $281,540.00. Following the completion of the transaction, the insider now directly owns 148,506 shares of the company’s stock, valued at approximately $5,972,911.32. The disclosure for this sale can be found here. Insiders sold a total of 21,450 shares of company stock valued at $858,803 in the last quarter. 3.80% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of PFGC. Norges Bank purchased a new position in Performance Food Group in the 4th quarter valued at approximately $37,271,000. FMR LLC boosted its position in Performance Food Group by 12.2% in the 4th quarter. FMR LLC now owns 8,899,049 shares of the food distribution company’s stock valued at $287,173,000 after buying an additional 966,672 shares during the period. Jennison Associates LLC boosted its position in Performance Food Group by 29.1% in the 1st quarter. Jennison Associates LLC now owns 2,984,830 shares of the food distribution company’s stock valued at $118,319,000 after buying an additional 673,089 shares during the period. Westfield Capital Management Co. LP purchased a new position in Performance Food Group in the 1st quarter valued at approximately $22,413,000. Finally, Federated Investors Inc. PA boosted its position in Performance Food Group by 389.8% in the 1st quarter. Federated Investors Inc. PA now owns 555,693 shares of the food distribution company’s stock valued at $22,028,000 after buying an additional 442,250 shares during the period. 95.72% of the stock is owned by institutional investors.
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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.
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