Performance Food Group (NYSE:PFGC) Price Target Cut to $110.00 by Analysts at TD Cowen

Performance Food Group (NYSE:PFGC) had its price objective reduced by analysts at TD Cowen from $115.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the food distribution company’s stock. TD Cowen’s target price points to a potential upside of 15.70% from the company’s current price.

A number of other research analysts have also recently weighed in on PFGC. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Performance Food Group in a research note on Thursday. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Weiss Ratings cut shares of Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. Finally, Citigroup increased their price objective on shares of Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $125.90.

Performance Food Group Price Performance

PFGC stock opened at $95.08 on Thursday. The firm has a 50 day moving average of $98.34 and a 200-day moving average of $99.35. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.21 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.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, equities analysts expect that Performance Food Group will post 5.60 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the sale, the insider owned 58,167 shares in the company, valued at approximately $5,769,003.06. This represents a 4.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chasity D. Grosh sold 1,005 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $92.40, for a total value of $92,862.00. Following the transaction, the insider directly owned 5,783 shares of the company’s stock, valued at $534,349.20. The trade was a 14.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,459 shares of company stock worth $4,317,917 in the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Trading of Performance Food Group

Several institutional investors and hedge funds have recently made changes to their positions in PFGC. First Citizens Bank & Trust Co. purchased a new stake in Performance Food Group during the 3rd quarter worth about $598,000. Krilogy Financial LLC acquired a new position in Performance Food Group in the 3rd quarter valued at about $1,019,000. NorthCrest Asset Manangement LLC purchased a new position in Performance Food Group in the 3rd quarter valued at about $657,000. Riversedge Advisors LLC purchased a new position in Performance Food Group in the 3rd quarter valued at about $208,000. Finally, GAMMA Investing LLC raised its position in shares of Performance Food Group by 13.9% in the third quarter. GAMMA Investing LLC now owns 4,457 shares of the food distribution company’s stock valued at $408,000 after buying an additional 544 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.