Performance Food Group (NYSE:PFGC) PT Raised to $52.00

Performance Food Group (NYSE:PFGC) had its price objective increased by BMO Capital Markets to $52.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an outperform rating on the food distribution company’s stock.

Other research analysts have also issued reports about the company. Bank of America assumed coverage on Performance Food Group in a research note on Wednesday, April 17th. They set a buy rating and a $45.00 price objective for the company. Wells Fargo & Co increased their price objective on Performance Food Group from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Tuesday, July 30th. ValuEngine upgraded Performance Food Group from a hold rating to a buy rating in a research note on Thursday. Loop Capital set a $48.00 price objective on Performance Food Group and gave the stock a buy rating in a research note on Friday, July 5th. Finally, Zacks Investment Research upgraded Performance Food Group from a sell rating to a hold rating in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $46.89.

Shares of NYSE PFGC opened at $45.60 on Thursday. The business has a fifty day simple moving average of $42.64 and a 200 day simple moving average of $40.13. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.97 and a beta of 0.66. Performance Food Group has a one year low of $28.05 and a one year high of $46.65.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Performance Food Group had a return on equity of 16.18% and a net margin of 0.84%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, research analysts anticipate that Performance Food Group will post 1.98 earnings per share for the current fiscal year.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $38.99, for a total transaction of $272,930.00. Following the sale, the insider now owns 155,006 shares in the company, valued at $6,043,683.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 21,000 shares of company stock worth $861,280 in the last 90 days. Company insiders own 3.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in PFGC. BlackRock Inc. grew its holdings in shares of Performance Food Group by 17.2% during the second quarter. BlackRock Inc. now owns 8,872,029 shares of the food distribution company’s stock worth $355,150,000 after purchasing an additional 1,301,033 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Performance Food Group by 17,407.7% during the second quarter. Nuveen Asset Management LLC now owns 1,291,894 shares of the food distribution company’s stock worth $51,715,000 after purchasing an additional 1,284,515 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Performance Food Group by 29.1% during the first quarter. Jennison Associates LLC now owns 2,984,830 shares of the food distribution company’s stock worth $118,319,000 after purchasing an additional 673,089 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Performance Food Group by 142.2% during the second quarter. APG Asset Management N.V. now owns 986,400 shares of the food distribution company’s stock worth $34,673,000 after purchasing an additional 579,200 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Performance Food Group during the first quarter worth $22,413,000. Institutional investors own 95.77% of the company’s stock.

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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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The Fly

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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