Performance Food Group (NYSE:PFGC) Price Target Raised to $118.00

Performance Food Group (NYSE:PFGC) had its price objective increased by Truist Financial from $101.00 to $118.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the food distribution company’s stock.

A number of other equities analysts have also issued reports on the company. UBS Group restated a “buy” rating and issued a $120.00 target price (up previously from $110.00) on shares of Performance Food Group in a research note on Thursday. Morgan Stanley raised their target price on Performance Food Group from $93.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Wells Fargo & Company set a $115.00 target price on Performance Food Group and gave the stock an “overweight” rating in a report on Wednesday. Sanford C. Bernstein set a $112.00 target price on Performance Food Group and gave the stock an “overweight” rating in a report on Thursday, May 29th. Finally, Citigroup initiated coverage on Performance Food Group in a report on Thursday, May 22nd. They set a “buy” rating and a $121.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $106.00.

Performance Food Group Price Performance

Shares of PFGC stock opened at $98.00 on Thursday. Performance Food Group has a fifty-two week low of $68.39 and a fifty-two week high of $103.50. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 1.37 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.73 and a current ratio of 1.58. The stock’s 50-day simple moving average is $93.38 and its 200-day simple moving average is $85.91.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Performance Food Group had a return on equity of 16.23% and a net margin of 0.54%. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $16.85 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Craig Howard Hoskins sold 14,285 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the transaction, the insider directly owned 138,008 shares of the company’s stock, valued at approximately $11,551,269.60. The trade was a 9.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hugh Patrick Hatcher sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the completion of the transaction, the insider directly owned 35,239 shares of the company’s stock, valued at $3,347,705. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,059 shares of company stock valued at $5,861,405 in the last three months. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PFGC. Parkside Financial Bank & Trust raised its stake in shares of Performance Food Group by 51.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock worth $32,000 after buying an additional 123 shares during the period. AlphaQuest LLC raised its stake in shares of Performance Food Group by 658.0% during the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after buying an additional 329 shares during the period. CENTRAL TRUST Co raised its stake in shares of Performance Food Group by 476.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company’s stock worth $39,000 after buying an additional 405 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Performance Food Group by 203.7% during the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company’s stock worth $40,000 after buying an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Performance Food Group during the 1st quarter worth approximately $44,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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.