Performance Food Group (NYSE:PFGC) PT Raised to $83.00 at Wells Fargo & Company

Performance Food Group (NYSE:PFGC) had its target price upped by Wells Fargo & Company from $80.00 to $83.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the food distribution company’s stock.

Several other equities research analysts also recently commented on PFGC. StockNews.com downgraded shares of Performance Food Group from a buy rating to a hold rating in a research report on Monday, August 12th. BMO Capital Markets upped their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday. Morgan Stanley reduced their price objective 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. Barclays upped their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Truist Financial upped their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a buy rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $86.38.

Performance Food Group Trading Up 0.5 %

PFGC opened at $73.48 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average price of $66.55 and a two-hundred day moving average price of $70.34. The company has a market cap of $11.43 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.42. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFGC. Point72 Asset Management L.P. boosted its stake in Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after acquiring an additional 1,770,683 shares during the last quarter. Norges Bank purchased a new position in Performance Food Group in the fourth quarter valued at about $119,726,000. Primecap Management Co. CA boosted its stake in Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after acquiring an additional 1,122,676 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Performance Food Group by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after acquiring an additional 397,114 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.