Performance Food Group (NYSE:PFGC) Research Coverage Started at Morgan Stanley

Morgan Stanley initiated coverage on shares of Performance Food Group (NYSE:PFGC) in a research report released on Tuesday morning. The firm issued an overweight rating on the food distribution company’s stock.

Several other equities analysts have also recently weighed in on the company. UBS Group restated a “buy” rating and set a $120.00 price target on shares of Performance Food Group in a report on Friday, December 19th. Piper Sandler lowered their target price on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Guggenheim reissued a “buy” rating on shares of Performance Food Group in a report on Thursday, December 18th. Sanford C. Bernstein initiated coverage on shares of Performance Food Group in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Performance Food Group from $134.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.22.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $94.23 on Tuesday. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 45.30, a P/E/G ratio of 1.16 and a beta of 0.93. The firm has a fifty day moving average price of $93.07 and a 200 day moving average price of $97.80. Performance Food Group has a fifty-two week low of $68.39 and a fifty-two week high of $109.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.70 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The company had revenue of $17.08 billion for the quarter, compared to the consensus estimate of $16.87 billion. During the same period in the previous year, the firm posted $1.16 EPS. Performance Food Group’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Performance Food Group by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,476,273 shares of the food distribution company’s stock worth $132,746,000 after acquiring an additional 8,401 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Performance Food Group during the 4th quarter valued at about $62,000. Oak Thistle LLC raised its position in Performance Food Group by 333.7% in the 4th quarter. Oak Thistle LLC now owns 34,880 shares of the food distribution company’s stock worth $3,136,000 after purchasing an additional 26,838 shares during the period. Yousif Capital Management LLC lifted its stake in Performance Food Group by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 36,033 shares of the food distribution company’s stock worth $3,436,000 after purchasing an additional 384 shares during the last quarter. Finally, Braun Stacey Associates Inc. lifted its stake in Performance Food Group by 2.9% in the fourth quarter. Braun Stacey Associates Inc. now owns 129,089 shares of the food distribution company’s stock worth $11,608,000 after purchasing an additional 3,610 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.