Performance Food Group Company (NYSE:PFGC) Receives $123.09 Consensus Target Price from Analysts

Performance Food Group Company (NYSE:PFGC) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $123.8182.

PFGC has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a research note on Thursday, May 7th. Barclays lifted their price target on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. TD Cowen started coverage on shares of Performance Food Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $128.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday, June 24th. Finally, Citigroup lifted their target price on shares of Performance Food Group from $135.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday.

Performance Food Group Trading Up 1.0%

Shares of Performance Food Group stock opened at $111.44 on Friday. The firm has a 50-day simple moving average of $104.10 and a two-hundred day simple moving average of $95.60. The company has a market cap of $17.51 billion, a P/E ratio of 53.07, a price-to-earnings-growth ratio of 1.39 and a beta of 0.91. Performance Food Group has a fifty-two week low of $80.82 and a fifty-two week high of $116.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. As a group, equities analysts predict that Performance Food Group will post 4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the transaction, the insider directly owned 44,260 shares in the company, valued at $4,647,300. This trade represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Grant sold 2,500 shares of Performance Food Group stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. This trade represents a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,187 shares of company stock worth $3,027,315 in the last three months. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter worth about $28,000. Asset Planning Inc purchased a new position in shares of Performance Food Group during the first quarter worth approximately $35,000. Torren Management LLC purchased a new position in Performance Food Group during the 4th quarter worth $41,000. Lloyd Advisory Services LLC. purchased a new position in shares of Performance Food Group during the fourth quarter worth about $43,000. Finally, Clearstead Advisors LLC increased its position in Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after acquiring an additional 335 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

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.