Piper Sandler Forecasts Strong Price Appreciation for Performance Food Group (NYSE:PFGC) Stock

Performance Food Group (NYSE:PFGC) had its price objective lifted by Piper Sandler from $79.00 to $92.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the food distribution company’s stock.

Several other equities research analysts have also recently commented on the stock. Guggenheim raised their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group increased their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays increased their price target on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group Trading Up 2.8 %

Shares of PFGC opened at $86.39 on Monday. The stock has a market capitalization of $13.46 billion, a P/E ratio of 31.88, a PEG ratio of 0.89 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $81.05 and a two-hundred day simple moving average of $73.17. Performance Food Group has a twelve month low of $61.59 and a twelve month high of $89.00.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. During the same period in the previous year, the company earned $1.15 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts anticipate that Performance Food Group will post 4.73 EPS for the current year.

Insider Transactions at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently bought and sold shares of PFGC. Blue Trust Inc. raised its stake in shares of Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after acquiring an additional 242 shares during the period. Ashton Thomas Securities LLC purchased a new position in Performance Food Group in the 3rd quarter worth about $26,000. Innealta Capital LLC purchased a new position in Performance Food Group in the 2nd quarter worth about $30,000. Venturi Wealth Management LLC increased its stake in Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares during the period. Finally, UMB Bank n.a. increased its stake in Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Company Profile

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.