Performance Food Group (NYSE:PFGC) PT Raised to $98.00 at Barclays

Performance Food Group (NYSE:PFGC) had its target price lifted by equities researchers at Barclays from $88.00 to $98.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the food distribution company’s stock. Barclays‘s price target would indicate a potential upside of 19.05% from the stock’s previous close.

PFGC has been the subject of several other research reports. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets increased their target price on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Jefferies Financial Group boosted 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 report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.88.

Performance Food Group Stock Performance

PFGC traded down $0.22 during midday trading on Tuesday, reaching $82.32. The company had a trading volume of 78,835 shares, compared to its average volume of 1,014,451. The business has a 50-day moving average of $76.25 and a two-hundred day moving average of $70.92. The company has a market cap of $12.81 billion, a P/E ratio of 30.72, a P/E/G ratio of 0.82 and a beta of 1.45. Performance Food Group has a 1 year low of $54.71 and a 1 year high of $83.70. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95.

Performance Food Group (NYSE:PFGC) last posted 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. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. As a group, equities research analysts predict that Performance Food Group will post 4.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other news, 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 value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 over the last quarter. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in 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. Innealta Capital LLC purchased a new position in shares of Performance Food Group during the 2nd quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in shares of 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 valued at $36,000 after purchasing an additional 365 shares during the period. V Square Quantitative Management LLC purchased a new stake in Performance Food Group during the third quarter worth $36,000. Finally, Mather Group LLC. acquired a new stake in Performance Food Group during the first quarter valued at $44,000. Institutional investors and hedge funds 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.