Morgan Stanley Increases Performance Food Group (PFGC) Price Target to $30.00

Performance Food Group (NYSE:PFGC) had its price objective increased by Morgan Stanley from $28.00 to $30.00 in a report published on Thursday, November 9th. They currently have an equal weight rating on the restaurant operator’s stock.

Several other research firms have also weighed in on PFGC. BMO Capital Markets lifted their price target on Performance Food Group from $30.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday, September 13th. TheStreet raised Performance Food Group from a c rating to a b- rating in a report on Monday, October 2nd. Zacks Investment Research raised Performance Food Group from a hold rating to a buy rating and set a $32.00 target price on the stock in a report on Thursday, October 5th. BidaskClub raised Performance Food Group from a hold rating to a buy rating in a report on Monday, September 18th. Finally, Wells Fargo & Company raised Performance Food Group from a market perform rating to an outperform rating in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $30.88.

Performance Food Group (PFGC) opened at $29.30 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.55 and a quick ratio of 0.80. Performance Food Group has a 12 month low of $19.95 and a 12 month high of $29.90. The company has a market capitalization of $3,039.74, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.11 and a beta of -0.28.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, November 8th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Performance Food Group had a return on equity of 15.02% and a net margin of 0.62%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. equities analysts predict that Performance Food Group will post 1.45 earnings per share for the current fiscal year.

In other news, insider Craig Howard Hoskins sold 4,450 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.81, for a total value of $123,754.50. Following the completion of the transaction, the insider now owns 175,993 shares of the company’s stock, valued at $4,894,365.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $28.25, for a total value of $141,250,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,004,450 shares of company stock valued at $281,523,755. Company insiders own 3.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $118,000. Public Employees Retirement System of Ohio lifted its stake in shares of Performance Food Group by 37.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,603 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 1,247 shares during the last quarter. Strs Ohio lifted its stake in shares of Performance Food Group by 4,700.0% in the 3rd quarter. Strs Ohio now owns 4,800 shares of the restaurant operator’s stock valued at $135,000 after purchasing an additional 4,700 shares during the last quarter. Pacad Investment Ltd. lifted its stake in shares of Performance Food Group by 880.0% in the 2nd quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $141,000. 82.26% of the stock is owned by institutional investors and hedge funds.

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Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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