Performance Food Group (NYSE:PFGC) Price Target Raised to $50.00

Performance Food Group (NYSE:PFGC) had its target price upped by Wells Fargo & Co from $45.00 to $50.00 in a research note published on Tuesday, The Fly reports. They currently have an outperform rating on the food distribution company’s stock.

Several other research analysts have also commented on the stock. Bank of America started coverage on shares of Performance Food Group in a research note on Wednesday, April 17th. They set a buy rating and a $45.00 price objective for the company. Loop Capital set a $48.00 price target on shares of Performance Food Group and gave the company a buy rating in a research note on Friday, July 5th. BMO Capital Markets upped their price target on shares of Performance Food Group to $48.00 and gave the company a positive rating in a research note on Friday, July 12th. Finally, Zacks Investment Research lowered shares of Performance Food Group from a hold rating to a sell rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $41.90.

NYSE PFGC opened at $42.73 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 1.45. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.86 and a beta of 0.66. The stock’s 50 day moving average price is $41.55. Performance Food Group has a 52 week low of $28.05 and a 52 week high of $44.37.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.67 billion. Performance Food Group had a return on equity of 14.91% and a net margin of 0.91%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. Analysts anticipate that Performance Food Group will post 1.78 EPS for the current year.

In other Performance Food Group news, insider Patrick T. Hagerty sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $38.99, for a total transaction of $272,930.00. Following the transaction, the insider now owns 155,006 shares in the company, valued at approximately $6,043,683.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Performance Food Group by 75.0% in the first quarter. Nisa Investment Advisors LLC now owns 700 shares of the food distribution company’s stock worth $28,000 after acquiring an additional 300 shares during the period. Advisor Group Inc. increased its stake in shares of Performance Food Group by 19.8% in the fourth quarter. Advisor Group Inc. now owns 1,834 shares of the food distribution company’s stock worth $59,000 after acquiring an additional 303 shares during the period. NEXT Financial Group Inc increased its stake in shares of Performance Food Group by 12.9% in the second quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock worth $85,000 after acquiring an additional 242 shares during the period. Convergence Investment Partners LLC purchased a new stake in Performance Food Group during the second quarter worth $185,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Performance Food Group during the first quarter worth $211,000. Hedge funds and other institutional investors own 95.88% 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 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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The Fly

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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