Performance Food Group (NYSE:PFGC) Given New $120.00 Price Target at TD Cowen

Performance Food Group (NYSE:PFGC) had its price objective cut by analysts at TD Cowen from $128.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the food distribution company’s stock. TD Cowen’s price objective points to a potential upside of 13.46% from the stock’s current price.

Several other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a research report on Thursday. Guggenheim upped their price objective on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Morgan Stanley raised their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday, June 24th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Performance Food Group Price Performance

Performance Food Group stock traded down $1.65 during mid-day trading on Thursday, reaching $105.76. 931,761 shares of the company’s stock traded hands, compared to its average volume of 1,970,788. Performance Food Group has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average of $109.38 and a two-hundred day moving average of $97.82. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 1.43 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The business had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.11 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that Performance Food Group will post 4.57 earnings per share for the current year.

Insider Activity

In related news, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the transaction, the insider owned 44,260 shares of the company’s stock, valued at $4,647,300. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erika T. Davis sold 2,595 shares of Performance Food Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $110.00, for a total transaction of $285,450.00. Following the sale, the insider owned 40,446 shares of the company’s stock, valued at $4,449,060. The trade was a 6.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,187 shares of company stock valued at $2,743,695. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

Institutional investors have recently modified their holdings of the stock. Capital World Investors raised its stake in shares of Performance Food Group by 1.0% during the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock valued at $2,037,910,000 after acquiring an additional 216,720 shares in the last quarter. BlackRock Inc. bought a new position in Performance Food Group in the second quarter worth approximately $1,576,983,000. Wellington Management Group LLP increased its holdings in Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the period. Geode Capital Management LLC increased its holdings in Performance Food Group by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after purchasing an additional 36,031 shares during the period. Finally, Eminence Capital LP raised its position in Performance Food Group by 60.5% during the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after purchasing an additional 998,249 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

More Performance Food Group News

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose approximately 6.4%–6.7% year over year to about $18.0 billion, while net income increased 23.4% to $162.3 million. Diluted EPS rose 22.6% year over year to $1.03 on a GAAP basis, and gross profit increased 8.3% to $2.2 billion. PFGC reports fiscal Q4 net sales of $18.0 billion
• Positive Sentiment: Operating trends were solid, with total case volume up 3.5% and independent foodservice case volume up 8.0%. Foodservice and Convenience benefited from acquisitions and organic growth, helping offset margin pressure in the Specialty segment.
• Positive Sentiment: Management forecast fiscal 2027 revenue of $72.5 billion to $73.0 billion, broadly in line with the $72.6 billion consensus estimate, and projected adjusted EBITDA of approximately $2.125 billion to $2.225 billion. The outlook implies continued growth and potential upside through fiscal 2028. Performance Food Group’s Underperformance Gives Investors A Tasty Snack

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.