BMO Capital Markets Issues Positive Forecast for Performance Food Group (NYSE:PFGC) Stock Price

Performance Food Group (NYSE:PFGC) had its target price upped by equities research analysts at BMO Capital Markets from $87.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the food distribution company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 9.33% from the stock’s previous close.

PFGC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group raised their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. Finally, Barclays raised their price objective on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Performance Food Group Trading Down 0.8 %

Shares of PFGC stock traded down $0.73 during trading hours on Thursday, reaching $86.89. The company had a trading volume of 543,485 shares, compared to its average volume of 1,023,423. The company has a 50 day moving average of $78.39 and a 200 day moving average of $71.94. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 0.81 and a beta of 1.44. Performance Food Group has a 1-year low of $59.35 and a 1-year high of $89.00.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. On average, equities research analysts anticipate that Performance Food Group will post 4.87 EPS for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the sale, the insider now directly owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,500 shares of company stock worth $7,426,075. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Investments Inc raised its position in shares of Performance Food Group by 79.3% in the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after buying an additional 12,919 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Performance Food Group in the 2nd quarter valued at $6,843,000. Magnetar Financial LLC bought a new position in shares of Performance Food Group in the 1st quarter valued at $1,913,000. Dimensional Fund Advisors LP increased its stake in shares of Performance Food Group by 27.9% in 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 purchasing an additional 469,500 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Performance Food Group by 27.8% in 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 purchasing an additional 372,218 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Company Profile

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.