Performance Food Group (NYSE:PFGC) had its target price boosted by equities research analysts at BMO Capital Markets to $48.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “positive” rating on the food distribution company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 11.09% from the stock’s current price.
Several other equities research analysts also recently issued reports on PFGC. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and issued a C$10.00 price target on shares of Hexo in a research report on Wednesday, April 17th. Finally, Loop Capital set a $48.00 price target on Performance Food Group and gave the company a “buy” rating in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $41.64.
Shares of NYSE:PFGC opened at $43.21 on Friday. The firm has a market capitalization of $4.55 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.87 and a beta of 0.66. The company has a 50-day simple moving average of $40.30. Performance Food Group has a 52-week low of $28.05 and a 52-week high of $43.78. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.95.
In related news, insider Patrick T. Hagerty sold 7,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $40.22, for a total value of $281,540.00. Following the completion of the sale, the insider now owns 148,506 shares in the company, valued at $5,972,911.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patrick T. Hagerty sold 7,450 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $40.85, for a total transaction of $304,332.50. Following the completion of the sale, the insider now owns 169,006 shares of the company’s stock, valued at approximately $6,903,895.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,450 shares of company stock valued at $858,803. 3.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFGC. FMR LLC lifted its stake in Performance Food Group by 12.2% during the fourth quarter. FMR LLC now owns 8,899,049 shares of the food distribution company’s stock worth $287,173,000 after purchasing an additional 966,672 shares during the period. BlackRock Inc. lifted its stake in Performance Food Group by 2.9% during the first quarter. BlackRock Inc. now owns 7,570,996 shares of the food distribution company’s stock worth $300,114,000 after purchasing an additional 212,027 shares during the period. Jennison Associates LLC lifted its stake in Performance Food Group by 29.1% during the first quarter. Jennison Associates LLC now owns 2,984,830 shares of the food distribution company’s stock worth $118,319,000 after purchasing an additional 673,089 shares during the period. Dimensional Fund Advisors LP lifted its stake in Performance Food Group by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,051,932 shares of the food distribution company’s stock worth $66,214,000 after purchasing an additional 139,473 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Performance Food Group by 10.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,547,690 shares of the food distribution company’s stock worth $61,351,000 after purchasing an additional 140,725 shares during the period. Institutional investors and hedge funds own 95.71% 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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.
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