Berenberg Bank Initiates Coverage on Performance Food Group (NYSE:PFGC)

Equities researchers at Berenberg Bank started coverage on shares of Performance Food Group (NYSE:PFGCGet Rating) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the food distribution company’s stock.

Several other research analysts also recently commented on the stock. Morgan Stanley raised their price objective on shares of Performance Food Group from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, February 10th. Barclays upped their price target on Performance Food Group from $57.00 to $65.00 in a research report on Thursday, February 10th. CL King assumed coverage on shares of Performance Food Group in a research report on Friday, March 11th. They issued a “buy” rating and a $60.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Performance Food Group from $62.00 to $58.00 in a report on Friday, May 13th. Finally, Truist Financial assumed coverage on shares of Performance Food Group in a research report on Tuesday, February 1st. They set a “buy” rating and a $61.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $62.00.

Shares of NYSE:PFGC opened at $46.49 on Wednesday. Performance Food Group has a fifty-two week low of $38.82 and a fifty-two week high of $58.13. The company’s 50-day moving average is $50.00 and its 200 day moving average is $47.83. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.71 and a current ratio of 1.59. The company has a market capitalization of $7.20 billion, a P/E ratio of 101.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45.

Performance Food Group (NYSE:PFGCGet Rating) last issued its earnings results on Wednesday, May 11th. The food distribution company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Performance Food Group had a return on equity of 10.51% and a net margin of 0.15%. During the same period last year, the firm earned $0.19 EPS. As a group, research analysts predict that Performance Food Group will post 2.57 earnings per share for the current year.

In other Performance Food Group news, insider Patrick T. Hagerty sold 500 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $51.06, for a total value of $25,530.00. Following the sale, the insider now owns 148,325 shares in the company, valued at $7,573,474.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PFGC. State of Michigan Retirement System boosted its holdings in shares of Performance Food Group by 0.5% in the first quarter. State of Michigan Retirement System now owns 39,303 shares of the food distribution company’s stock worth $2,001,000 after buying an additional 203 shares during the last quarter. Private Capital Group LLC lifted its stake in Performance Food Group by 61.4% in the 1st quarter. Private Capital Group LLC now owns 560 shares of the food distribution company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. FourThought Financial LLC boosted its stake in Performance Food Group by 16.6% during the first quarter. FourThought Financial LLC now owns 1,676 shares of the food distribution company’s stock valued at $85,000 after buying an additional 239 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Performance Food Group by 31.2% in the 4th quarter. First Horizon Advisors Inc. now owns 1,031 shares of the food distribution company’s stock worth $48,000 after acquiring an additional 245 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Performance Food Group by 1.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 19,624 shares of the food distribution company’s stock worth $912,000 after purchasing an additional 278 shares during the last quarter.

About Performance Food Group (Get Rating)

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through two segments, Foodservice and Vistar. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products, as well as beef, pork, poultry, and seafood.

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