Morgan Stanley Cuts Performance Food Group (NYSE:PFGC) Price Target to $76.00

Performance Food Group (NYSE:PFGC) had its price target decreased by Morgan Stanley from $80.00 to $76.00 in a report published on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the food distribution company’s stock.

PFGC has been the topic of several other reports. Barclays reduced their target price on Performance Food Group from $86.00 to $84.00 and set an overweight rating on the stock in a report on Thursday, May 9th. StockNews.com raised Performance Food Group from a hold rating to a buy rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $80.57.

Performance Food Group Trading Down 1.1 %

Shares of NYSE:PFGC opened at $65.70 on Tuesday. The company has a market cap of $10.22 billion, a P/E ratio of 24.51, a P/E/G ratio of 0.82 and a beta of 1.42. The stock’s 50-day moving average is $68.00 and its 200-day moving average is $70.87. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Performance Food Group had a return on equity of 16.22% and a net margin of 0.72%. The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period last year, the business earned $0.83 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Performance Food Group will post 4.2 earnings per share for the current year.

Institutional Trading of Performance Food Group

Large investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Performance Food Group in the 1st quarter valued at $29,000. GAMMA Investing LLC bought a new stake in shares of Performance Food Group in the 4th quarter valued at $29,000. McGlone Suttner Wealth Management Inc. bought a new position in Performance Food Group during the 4th quarter worth about $29,000. Signaturefd LLC increased its holdings in Performance Food Group by 38.8% during the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after purchasing an additional 143 shares in the last quarter. Finally, Mather Group LLC. bought a new position in Performance Food Group during the 1st quarter worth about $44,000. 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.