Performance Food Group Company (NYSE:PFGC) Stock Has Consensus Target Price of $126.00

Shares of Performance Food Group Company (NYSE:PFGC) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $126.00.

PFGC has been the topic of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Wells Fargo & Company upped their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Morgan Stanley increased their price target on Performance Food Group from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, UBS Group cut their price objective on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider A. King sold 8,023 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $836,076.83. Following the completion of the transaction, the insider directly owned 47,800 shares in the company, valued at approximately $4,981,238. This trade represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald Bulmer sold 10,535 shares of Performance Food Group stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $105.90, for a total value of $1,115,656.50. Following the sale, the insider directly owned 54,291 shares in the company, valued at $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,459 shares of company stock valued at $4,317,917 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of institutional investors have recently added to or reduced their stakes in PFGC. BlackRock Inc. acquired a new position in Performance Food Group during the 2nd quarter worth about $1,576,983,000. Primecap Management Co. CA bought a new stake in shares of Performance Food Group in the 2nd quarter valued at about $305,064,000. Dimensional Fund Advisors LP grew its position in shares of Performance Food Group by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock valued at $215,418,000 after buying an additional 619,572 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Performance Food Group in the 2nd quarter valued at about $105,756,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Performance Food Group in the second quarter valued at about $94,236,000. 96.87% of the stock is owned by institutional investors.

Performance Food Group Stock Up 1.5%

Shares of NYSE PFGC opened at $99.04 on Monday. The company has a market cap of $15.60 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.25 and a beta of 0.87. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group has a 12 month low of $80.82 and a 12 month high of $117.47. The stock has a 50-day moving average price of $95.77 and a two-hundred day moving average price of $97.41.

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 company had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, analysts forecast that Performance Food Group will post 5.58 earnings per share for the current fiscal year.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.