Brokerages Set Performance Food Group (NYSE:PFGC) Target Price at $94.33

Shares of Performance Food Group (NYSE:PFGC) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $94.33.

PFGC has been the topic of several research analyst reports. Melius Research raised shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Melius initiated coverage on Performance Food Group in a report on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price on the stock. Barclays increased their price target on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the sale, the insider now owns 192,868 shares of the company’s stock, valued at $17,026,387.04. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently bought and sold shares of PFGC. FMR LLC lifted its position in shares of Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after purchasing an additional 2,773,547 shares in the last quarter. Primecap Management Co. CA lifted its position in Performance Food Group by 223.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after buying an additional 1,122,676 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Performance Food Group by 32.0% during the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after buying an additional 724,094 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after acquiring an additional 372,218 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.1 %

Performance Food Group stock opened at $84.39 on Friday. The firm has a 50-day moving average price of $85.35 and a two-hundred day moving average price of $75.81. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 0.95 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts expect that Performance Food Group will post 4.73 earnings per share for the current year.

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.