Performance Food Group (NYSE:PFGC) Price Target Raised to $96.00 at Morgan Stanley

Performance Food Group (NYSE:PFGC) had its price target hoisted by Morgan Stanley from $94.00 to $96.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the food distribution company’s stock.

PFGC has been the topic of several other reports. Truist Financial lifted their target price on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays increased their target price on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Guggenheim upped their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.67.

Performance Food Group Stock Performance

PFGC opened at $88.75 on Tuesday. The company’s 50 day moving average is $86.51 and its 200 day moving average is $78.69. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 0.96 and a beta of 1.43. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

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 $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that Performance Food Group will post 4.74 EPS for the current year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the sale, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. The trade was a 10.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Performance Food Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Performance Food Group by 281.4% during the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Performance Food Group in the third quarter worth $26,000. Venturi Wealth Management LLC increased its position in Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares during the period. UMB Bank n.a. boosted its holdings in shares of Performance Food Group by 414.8% during the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Performance Food Group during the third quarter valued at $36,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.