BMO Capital Markets Raises Performance Food Group (NYSE:PFGC) Price Target to $80.00

Performance Food Group (NYSE:PFGCFree Report) had its target price raised by BMO Capital Markets from $78.00 to $80.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the food distribution company’s stock.

PFGC has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft started coverage on Performance Food Group in a report on Thursday, October 19th. They set a buy rating and a $80.00 target price on the stock. Stephens increased their price target on Performance Food Group from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Thursday. Barclays dropped their price target on Performance Food Group from $76.00 to $66.00 and set an overweight rating on the stock in a research report on Monday, October 23rd. Morgan Stanley increased their price target on Performance Food Group from $65.00 to $68.00 and gave the stock an equal weight rating in a research report on Thursday, November 9th. Finally, StockNews.com cut Performance Food Group from a buy rating to a hold rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $79.75.

Read Our Latest Analysis on Performance Food Group

Performance Food Group Trading Down 1.2 %

Shares of PFGC opened at $71.71 on Thursday. The company has a market capitalization of $11.16 billion, a P/E ratio of 26.17, a P/E/G ratio of 0.94 and a beta of 1.40. Performance Food Group has a one year low of $52.32 and a one year high of $74.74. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.76 and a current ratio of 1.71. The stock has a 50-day moving average price of $69.73 and a 200 day moving average price of $63.21.

Performance Food Group (NYSE:PFGCGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.20 billion. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Performance Food Group will post 4.28 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In related news, Director David V. Singer sold 955 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $62.76, for a total value of $59,935.80. Following the sale, the director now directly owns 9,417 shares in the company, valued at approximately $591,010.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently modified their holdings of the company. Primecap Management Co. CA acquired a new stake in shares of Performance Food Group in the fourth quarter valued at $11,230,000. Advisory Services Network LLC lifted its holdings in Performance Food Group by 10.7% in the 4th quarter. Advisory Services Network LLC now owns 6,181 shares of the food distribution company’s stock valued at $427,000 after acquiring an additional 598 shares during the last quarter. US Bancorp DE lifted its holdings in Performance Food Group by 52.7% in the 4th quarter. US Bancorp DE now owns 4,805 shares of the food distribution company’s stock valued at $332,000 after acquiring an additional 1,659 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Performance Food Group in the 4th quarter valued at about $595,000. Finally, Corient Private Wealth LLC lifted its holdings in Performance Food Group by 47.1% in the 4th quarter. Corient Private Wealth LLC now owns 36,333 shares of the food distribution company’s stock valued at $2,512,000 after acquiring an additional 11,626 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

About Performance Food Group

(Get Free Report)

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.

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