Performance Food Group Company (NYSE:PFGC) Stock Has Consensus Target Price of $126.40 According to Analysts

Performance Food Group Company (NYSE:PFGC) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $126.40.

Several equities research analysts have issued reports on PFGC shares. Morgan Stanley raised their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Wells Fargo & Company upped their price objective on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 24th. Guggenheim boosted their price objective 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. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th.

Performance Food Group Trading Up 2.3%

Performance Food Group stock opened at $93.93 on Thursday. The stock has a 50-day simple moving average of $101.55 and a 200 day simple moving average of $98.70. The stock has a market capitalization of $14.80 billion, a P/E ratio of 41.02, a PEG ratio of 1.20 and a beta of 0.87. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $117.47.

Performance Food Group (NYSE:PFGC) last posted 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). The business had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. Analysts expect that Performance Food Group will post 5.6 earnings per share for the current year.

Insider Activity

In other news, insider Donald Bulmer sold 1,353 shares of the stock in a transaction 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 sale, the insider directly owned 52,938 shares of the company’s stock, valued at approximately $5,573,842.02. This represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider A. King sold 1,320 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the sale, the insider directly owned 44,216 shares of the company’s stock, valued at $4,655,502.64. This represents a 2.90% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 41,459 shares of company stock worth $4,317,917. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CX Institutional boosted its holdings in shares of Performance Food Group by 1.8% in the 3rd quarter. CX Institutional now owns 22,420 shares of the food distribution company’s stock valued at $2,052,000 after purchasing an additional 394 shares in the last quarter. Versant Capital Management Inc grew its position in Performance Food Group by 29.1% in the third quarter. Versant Capital Management Inc now owns 1,037 shares of the food distribution company’s stock valued at $95,000 after acquiring an additional 234 shares during the last quarter. QRG Capital Management Inc. grew its position in Performance Food Group by 8.0% in the second quarter. QRG Capital Management Inc. now owns 6,636 shares of the food distribution company’s stock valued at $742,000 after acquiring an additional 493 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Performance Food Group in the second quarter worth about $267,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $7,460,000. 96.87% of the stock is currently owned by institutional investors.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.