BMO Capital Markets Raises Performance Food Group Company (PFGC) Price Target to $33.00

Performance Food Group Company (NYSE:PFGC) had its price target raised by BMO Capital Markets from $30.00 to $33.00 in a report released on Wednesday. BMO Capital Markets currently has an outperform rating on the restaurant operator’s stock.

Several other research analysts have also weighed in on PFGC. Jefferies Group LLC reaffirmed a hold rating on shares of Performance Food Group in a research note on Tuesday, May 16th. Royal Bank Of Canada set a $27.00 target price on shares of Performance Food Group and gave the stock a hold rating in a research note on Tuesday, May 16th. Zacks Investment Research raised shares of Performance Food Group from a hold rating to a buy rating and set a $31.00 target price for the company in a research note on Wednesday, June 14th. Guggenheim increased their target price on shares of Performance Food Group from $20.00 to $30.00 in a research note on Friday, June 16th. Finally, BidaskClub lowered shares of Performance Food Group from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $29.20.

Shares of Performance Food Group (PFGC) opened at 28.45 on Wednesday. The company’s 50-day moving average is $27.75 and its 200-day moving average is $26.41. Performance Food Group has a one year low of $19.95 and a one year high of $29.90. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 30.59 and a beta of -0.28.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 16th. The restaurant operator reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, equities analysts predict that Performance Food Group will post $1.43 EPS for the current year.

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In other Performance Food Group news, insider James D. Hope purchased 3,575 shares of Performance Food Group stock in a transaction dated Friday, August 25th. The shares were acquired at an average price of $26.99 per share, with a total value of $96,489.25. Following the completion of the transaction, the insider now owns 65,480 shares of the company’s stock, valued at $1,767,305.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Davidson Kempner Capital Management LP lifted its position in shares of Performance Food Group by 16.0% during the second quarter. Davidson Kempner Capital Management LP now owns 1,450,000 shares of the restaurant operator’s stock worth $39,730,000 after purchasing an additional 200,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Performance Food Group by 25.6% during the second quarter. Public Employees Retirement System of Ohio now owns 5,780 shares of the restaurant operator’s stock worth $158,000 after purchasing an additional 1,177 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Performance Food Group by 113.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,242 shares of the restaurant operator’s stock worth $171,000 after purchasing an additional 3,324 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Performance Food Group by 70.9% during the second quarter. California State Teachers Retirement System now owns 125,996 shares of the restaurant operator’s stock worth $3,452,000 after purchasing an additional 52,267 shares in the last quarter. Finally, 361 Capital LLC acquired a new stake in shares of Performance Food Group during the second quarter worth about $403,000. 79.07% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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