Performance Food Group (NYSE:PFGC) Price Target Increased to $88.00 by Analysts at Wells Fargo & Company

Performance Food Group (NYSE:PFGCGet Free Report) had its target price boosted by research analysts at Wells Fargo & Company from $83.00 to $88.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the food distribution company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.06% from the stock’s previous close.

Other analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays lifted their price objective on Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Truist Financial increased their price objective on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and an average price target of $87.63.

Check Out Our Latest Report on Performance Food Group

Performance Food Group Price Performance

NYSE:PFGC opened at $79.96 on Wednesday. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 0.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The stock has a fifty day moving average of $73.56 and a 200 day moving average of $70.48. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $81.05.

Performance Food Group (NYSE:PFGCGet Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Activity

In related news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,500 shares of company stock worth $7,426,075. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Oracle Alpha Inc. bought a new stake in shares of Performance Food Group during the 4th quarter valued at $448,000. Wellington Management Group LLP raised its stake in Performance Food Group by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after acquiring an additional 397,114 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Performance Food Group during the 4th quarter valued at $323,000. Mather Group LLC. bought a new position in Performance Food Group in the 1st quarter worth $44,000. Finally, Rise Advisors LLC bought a new position in shares of Performance Food Group in the first quarter worth about $29,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

About Performance Food Group

(Get Free Report)

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.

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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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