TD Cowen Issues Pessimistic Forecast for Performance Food Group (NYSE:PFGC) Stock Price

Performance Food Group (NYSE:PFGC) had its price objective cut by investment analysts at TD Cowen from $115.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the food distribution company’s stock. TD Cowen’s target price points to a potential upside of 15.70% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Performance Food Group in a research report on Thursday. Weiss Ratings cut Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a report on Thursday, August 13th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.90.

Performance Food Group Trading Up 0.4%

Shares of NYSE:PFGC opened at $95.08 on Thursday. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $117.47. The company’s 50 day moving average is $98.34 and its two-hundred day moving average is $99.35. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The company has a market cap of $14.98 billion, a PE ratio of 20.81, a P/E/G ratio of 1.21 and a beta of 0.87.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 0.53% and a return on equity of 15.15%. Performance Food Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Equities analysts predict that Performance Food Group will post 5.60 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Hugh Hatcher sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the transaction, the insider directly owned 58,167 shares of the company’s stock, valued at approximately $5,769,003.06. This trade represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider A. King sold 1,320 shares of Performance Food Group stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the transaction, the insider owned 44,216 shares in the company, valued at approximately $4,655,502.64. This represents a 2.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,459 shares of company stock valued at $4,317,917 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cedar Mountain Advisors LLC purchased a new position in Performance Food Group in the first quarter worth $28,000. Asset Planning Inc purchased a new stake in shares of Performance Food Group during the 1st quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Performance Food Group during the 2nd quarter worth $51,000. Transamerica Financial Advisors LLC acquired a new position in shares of Performance Food Group during the 2nd quarter worth $54,000. Finally, Field & Main Bank acquired a new position in shares of Performance Food Group during the 2nd quarter worth $56,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Company Profile

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.