Performance Food Group Company (NYSE:PFGC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Performance Food Group Company (NYSE:PFGC) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $118.2222.

Several research firms have recently issued reports on PFGC. Piper Sandler reduced their target price 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. Morgan Stanley set a $123.00 target price on shares of Performance Food Group in a report on Tuesday. Barclays dropped their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Citigroup lowered their price target on Performance Food Group from $134.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Finally, Sanford C. Bernstein started coverage on shares of Performance Food Group in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $130.00 target price for the company.

Performance Food Group Trading Down 0.4%

Shares of PFGC opened at $93.80 on Friday. The business’s 50-day moving average price is $93.04 and its 200-day moving average price is $97.84. The company has a quick ratio of 0.70, a current ratio of 1.67 and a debt-to-equity ratio of 1.55. Performance Food Group has a twelve month low of $68.39 and a twelve month high of $109.05. The stock has a market cap of $14.71 billion, a PE ratio of 45.10, a P/E/G ratio of 1.14 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business had revenue of $17.08 billion for the quarter, compared to the consensus estimate of $16.87 billion. During the same period last year, the firm posted $1.16 earnings per share. Performance Food Group’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Performance Food Group will post 4.58 EPS for the current fiscal year.

Institutional Trading of Performance Food Group

Hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its stake in shares of Performance Food Group by 51.3% during the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock worth $32,000 after acquiring an additional 123 shares during the last quarter. AlphaQuest LLC increased its holdings in Performance Food Group by 658.0% in the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after buying an additional 329 shares in the last quarter. Root Financial Partners LLC purchased a new position in Performance Food Group during the third quarter worth approximately $39,000. Golden State Wealth Management LLC raised its position in Performance Food Group by 148.6% during the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after acquiring an additional 312 shares during the period. Finally, Eastern Bank purchased a new position in Performance Food Group in the 3rd quarter valued at about $47,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.