Performance Food Group (NYSE:PFGC) Price Target Cut to $84.00 by Analysts at Barclays

Performance Food Group (NYSE:PFGC) had its price objective dropped by stock analysts at Barclays from $86.00 to $84.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the food distribution company’s stock. Barclays‘s price objective points to a potential upside of 18.51% from the company’s current price.

Several other analysts have also recently issued reports on PFGC. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Morgan Stanley lifted their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Stephens upped their price objective on Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets increased their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Performance Food Group Stock Up 2.5 %

Shares of NYSE PFGC traded up $1.70 on Thursday, hitting $70.88. The company had a trading volume of 493,637 shares, compared to its average volume of 974,636. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The business has a 50 day moving average of $72.57 and a two-hundred day moving average of $69.25. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $11.03 billion, a P/E ratio of 25.72, a PEG ratio of 0.95 and a beta of 1.40.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors have recently modified their holdings of the company. Capital World Investors boosted its stake in Performance Food Group by 0.4% during the 4th quarter. Capital World Investors now owns 21,426,852 shares of the food distribution company’s stock valued at $1,481,667,000 after purchasing an additional 78,481 shares during the period. Vanguard Group Inc. boosted its position in shares of Performance Food Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock worth $937,613,000 after buying an additional 107,449 shares during the period. FMR LLC grew its holdings in Performance Food Group by 0.8% in the 3rd quarter. FMR LLC now owns 12,441,763 shares of the food distribution company’s stock worth $732,322,000 after buying an additional 98,756 shares in the last quarter. Clearbridge Investments LLC increased its position in Performance Food Group by 2.1% in the 4th quarter. Clearbridge Investments LLC now owns 6,484,836 shares of the food distribution company’s stock valued at $448,426,000 after acquiring an additional 136,141 shares during the period. Finally, Wellington Management Group LLP increased its position in Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after acquiring an additional 397,114 shares during the period. Institutional investors own 96.87% of the company’s stock.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.