Performance Food Group’s (PFGC) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Performance Food Group (NYSE:PFGC) in a report issued on Monday, Marketbeat Ratings reports. Morgan Stanley currently has a $92.00 target price on the food distribution company’s stock.

Several other research analysts have also issued reports on PFGC. BMO Capital Markets lifted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Barclays lifted their target price on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.88.

Performance Food Group Trading Down 0.6 %

Shares of Performance Food Group stock opened at $81.29 on Monday. The business has a fifty day simple moving average of $77.58 and a 200-day simple moving average of $71.46. Performance Food Group has a fifty-two week low of $55.60 and a fifty-two week high of $83.70. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 EPS. On average, equities analysts forecast that Performance Food Group will post 4.88 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction on Friday, August 30th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,500 shares of company stock valued at $7,426,075. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds have recently bought and sold shares of PFGC. Blue Trust Inc. lifted its position in shares of Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after buying an additional 242 shares during the last quarter. Innealta Capital LLC acquired a new stake in Performance Food Group in the 2nd quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after purchasing an additional 365 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Performance Food Group during the third quarter worth approximately $36,000. Finally, GAMMA Investing LLC grew its holdings in Performance Food Group by 65.2% during the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 349 shares during the last quarter. 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.