Performance Food Group (NYSE:PFGC) Price Target Increased to $87.00 by Analysts at BMO Capital Markets

Performance Food Group (NYSE:PFGC) had its target price lifted by BMO Capital Markets from $80.00 to $87.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the food distribution company’s stock.

PFGC has been the subject of a number of other research reports. StockNews.com cut shares of Performance Food Group from a buy rating to a hold rating in a research report on Monday, August 12th. Morgan Stanley decreased their target price on shares of Performance Food Group from $80.00 to $76.00 and set an equal weight rating for the company in a research report on Tuesday, July 16th. Finally, Barclays decreased their target price on shares of Performance Food Group from $86.00 to $84.00 and set an overweight rating for the company in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Performance Food Group presently has an average rating of Moderate Buy and a consensus target price of $86.38.

Performance Food Group Price Performance

Shares of PFGC opened at $73.48 on Thursday. The company has a 50 day moving average price of $66.55 and a 200-day moving average price of $70.34. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The stock has a market capitalization of $11.43 billion, a PE ratio of 27.42, a PEG ratio of 0.90 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.77 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Performance Food Group will post 4.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in shares of Performance Food Group by 38.8% in the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after buying an additional 143 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Performance Food Group by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock worth $469,000 after buying an additional 160 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Performance Food Group by 4.3% in the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock worth $289,000 after buying an additional 179 shares during the last quarter. Hanlon Investment Management Inc. raised its holdings in shares of Performance Food Group by 1.4% in the first quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock worth $1,046,000 after buying an additional 194 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Performance Food Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock worth $819,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 96.87% 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 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.