Performance Food Group (NYSE:PFGC) Given New $112.00 Price Target at Barclays

Performance Food Group (NYSE:PFGC) had its target price boosted by investment analysts at Barclays from $100.00 to $112.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the food distribution company’s stock. Barclays‘s price objective would suggest a potential upside of 25.03% from the company’s previous close.

A number of other brokerages have also recently commented on PFGC. Truist Financial decreased their price target on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the stock an “overweight” rating in a research report on Thursday. Citigroup started coverage on Performance Food Group in a research report on Thursday, May 22nd. They issued a “buy” rating and a $121.00 price target on the stock. Finally, Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Performance Food Group Stock Up 0.3%

PFGC stock opened at $89.58 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.96 and a beta of 1.13. The business’s fifty day moving average price is $80.86 and its two-hundred day moving average price is $83.58. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Insider Activity at Performance Food Group

In other news, insider Craig Howard Hoskins sold 19,113 shares of Performance Food Group stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the sale, the insider now directly owns 152,293 shares of the company’s stock, valued at approximately $13,333,252.15. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider A Brent King sold 11,104 shares of Performance Food Group stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $88.69, for a total value of $984,813.76. Following the sale, the insider now directly owns 65,952 shares in the company, valued at $5,849,282.88. The trade was a 14.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,568 shares of company stock valued at $5,747,713 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in PFGC. JPMorgan Chase & Co. increased its holdings in shares of Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after acquiring an additional 401,235 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Performance Food Group by 8.1% during the 4th quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after buying an additional 125,532 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Performance Food Group during the 4th quarter valued at $2,087,000. KLP Kapitalforvaltning AS purchased a new stake in Performance Food Group during the 4th quarter worth about $3,697,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Performance Food Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,325 shares of the food distribution company’s stock worth $103,263,000 after purchasing an additional 26,925 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

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.