Citigroup Cuts Performance Food Group (NYSE:PFGC) Price Target to $126.00

Performance Food Group (NYSE:PFGC) had its target price trimmed by Citigroup from $127.00 to $126.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the food distribution company’s stock.

Several other equities research analysts have also commented on the company. Piper Sandler decreased their price target on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Barclays lowered their target price on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group Price Performance

Performance Food Group stock opened at $94.37 on Friday. The company has a market cap of $14.80 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. Performance Food Group has a one year low of $68.39 and a one year high of $109.05. The business has a fifty day moving average of $92.93 and a two-hundred day moving average of $97.77. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The company had revenue of $16.44 billion during the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PFGC. Goldman Sachs Group Inc. lifted its holdings in Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after purchasing an additional 184,066 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Performance Food Group in the first quarter valued at approximately $359,000. QRG Capital Management Inc. raised its position in shares of Performance Food Group by 8.5% in the second quarter. QRG Capital Management Inc. now owns 5,053 shares of the food distribution company’s stock valued at $442,000 after buying an additional 397 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Performance Food Group by 8.1% during the second quarter. DAVENPORT & Co LLC now owns 5,671 shares of the food distribution company’s stock valued at $496,000 after buying an additional 425 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in Performance Food Group by 7.7% during the second quarter. Valeo Financial Advisors LLC now owns 3,510 shares of the food distribution company’s stock worth $307,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.