Performance Food Group (NYSE:PFGC) PT Lowered to $84.00 at Barclays

Performance Food Group (NYSE:PFGC) had its target price reduced by investment analysts at Barclays from $86.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the food distribution company’s stock. Barclays‘s target price would suggest a potential upside of 18.51% from the company’s current price.

PFGC has been the topic of several other reports. Morgan Stanley increased their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Stephens increased their price objective 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. Finally, BMO Capital Markets increased their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Performance Food Group Stock Performance

PFGC stock traded up $1.70 during trading hours on Thursday, reaching $70.88. The stock had a trading volume of 493,637 shares, compared to its average volume of 974,636. The stock has a market capitalization of $11.03 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75. The stock has a 50-day simple moving average of $72.57 and a 200 day simple moving average of $69.25. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.10 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. Performance Food Group’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Analysts predict that Performance Food Group will post 4.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently bought and sold shares of the business. Capital World Investors increased its holdings in Performance Food Group by 0.4% in the 4th quarter. Capital World Investors now owns 21,426,852 shares of the food distribution company’s stock valued at $1,481,667,000 after buying an additional 78,481 shares during the period. Vanguard Group Inc. increased its holdings in Performance Food Group by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after buying an additional 107,449 shares during the period. FMR LLC increased its holdings in Performance Food Group by 0.8% in the 3rd quarter. FMR LLC now owns 12,441,763 shares of the food distribution company’s stock valued at $732,322,000 after buying an additional 98,756 shares during the period. Clearbridge Investments LLC increased its holdings in Performance Food Group by 2.1% in the 4th quarter. Clearbridge Investments LLC now owns 6,484,836 shares of the food distribution company’s stock valued at $448,426,000 after buying an additional 136,141 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after buying an additional 397,114 shares during the period. 96.87% of the stock is owned by institutional investors.

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.