Performance Food Group Company (NYSE:PFGC) Receives $126.90 Consensus PT from Brokerages

Performance Food Group Company (NYSE:PFGC) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $126.90.

A number of analysts have weighed in on the stock. TD Cowen dropped their target price on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Weiss Ratings raised shares of Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. UBS Group dropped their price objective on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Guggenheim raised their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th.

Insider Buying and Selling at Performance Food Group

In related news, insider Donald S. Bulmer sold 1,353 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $142,457.37. Following the completion of the transaction, the insider directly owned 52,938 shares in the company, valued at $5,573,842.02. This represents a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erika T. Davis sold 1,320 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total value of $138,982.80. Following the completion of the sale, the insider directly owned 40,402 shares in the company, valued at $4,253,926.58. This represents a 3.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,910 shares of company stock worth $5,335,910. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of PFGC. California State Teachers Retirement System increased its holdings in shares of Performance Food Group by 10,766.1% in the 2nd quarter. California State Teachers Retirement System now owns 19,960,216 shares of the food distribution company’s stock worth $2,231,353,000 after acquiring an additional 19,776,523 shares during the period. BlackRock Inc. bought a new stake in Performance Food Group in the 2nd quarter valued at about $1,576,983,000. Primecap Management Co. CA acquired a new position in Performance Food Group during the 2nd quarter valued at about $305,064,000. Norges Bank acquired a new position in Performance Food Group during the 4th quarter valued at about $208,170,000. Finally, Wellington Management Group LLP grew its position in Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Trading Down 1.8%

Shares of NYSE PFGC opened at $96.83 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average price is $108.75 and its two-hundred day moving average price is $98.77. Performance Food Group has a 52-week low of $80.82 and a 52-week high of $117.47. The stock has a market capitalization of $15.25 billion, a P/E ratio of 42.28, a PEG ratio of 1.26 and a beta of 0.88.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.Performance Food Group’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. On average, analysts anticipate that Performance Food Group will post 5.6 earnings per share for the current fiscal year.

Performance Food Group Company Profile

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.