Morgan Stanley Boosts Performance Food Group (NYSE:PFGC) Price Target to $80.00

Performance Food Group (NYSE:PFGC) had its price objective raised by Morgan Stanley from $78.00 to $80.00 in a report published on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the food distribution company’s stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets raised their price target on Performance Food Group from $78.00 to $80.00 and gave the company an outperform rating in a report on Thursday, February 8th. StockNews.com raised Performance Food Group from a hold rating to a buy rating in a report on Thursday, February 8th. Barclays boosted their target price on shares of Performance Food Group from $78.00 to $86.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Finally, Stephens boosted their target price on shares of Performance Food Group from $75.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $81.25.

Performance Food Group Trading Down 0.3 %

Shares of Performance Food Group stock opened at $69.02 on Friday. The business has a fifty day simple moving average of $74.34 and a two-hundred day simple moving average of $67.79. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 0.98 and a beta of 1.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts forecast that Performance Food Group will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in Performance Food Group in the first quarter valued at about $29,000. GAMMA Investing LLC acquired a new position in Performance Food Group in the fourth quarter valued at about $29,000. McGlone Suttner Wealth Management Inc. acquired a new position in Performance Food Group in the fourth quarter valued at about $29,000. Signaturefd LLC raised its stake in Performance Food Group by 38.8% in the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock valued at $35,000 after purchasing an additional 143 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Performance Food Group in the first quarter valued at about $44,000. Institutional investors and hedge funds own 96.87% 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 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.