Performance Food Group Company (NYSE:PFGC) Receives $119.00 Consensus Target Price from Analysts

Performance Food Group Company (NYSE:PFGC) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $119.00.

Several brokerages have issued reports on PFGC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. Citigroup upped their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. UBS Group reduced their price target on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, Morgan Stanley reduced their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th.

Performance Food Group Stock Down 1.4%

PFGC stock opened at $96.19 on Friday. The company has a market cap of $15.11 billion, a P/E ratio of 45.80, a P/E/G ratio of 1.53 and a beta of 0.93. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $109.05. The company’s 50-day moving average price is $90.24 and its 200 day moving average price is $92.07. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40.

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

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $95.00, for a total value of $166,250.00. Following the sale, the insider owned 44,791 shares of the company’s stock, valued at $4,255,145. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A Brent King sold 5,641 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $96.63, for a total transaction of $545,089.83. Following the completion of the sale, the insider directly owned 57,211 shares in the company, valued at $5,528,298.93. This trade represents a 8.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,891 shares of company stock worth $1,232,460 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors have recently modified their holdings of PFGC. Norges Bank acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $208,170,000. Wellington Management Group LLP raised its position in shares of Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Invesco Ltd. raised its position in shares of Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after buying an additional 1,168,869 shares during the last quarter. Eminence Capital LP raised its position in shares of Performance Food Group by 60.5% in the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after buying an additional 998,249 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $81,020,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Company Profile

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.