Performance Food Group (NYSE:PFGC) Stock Gets Price Target Bump from Sanford C. Bernstein

Performance Food Group (NYSE:PFGC) had its price objective increased by stock analysts at Sanford C. Bernstein from $130.00 to $135.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the food distribution company’s stock. Sanford C. Bernstein‘s target price would suggest a potential upside of 25.70% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $133.00 price objective on shares of Performance Food Group in a research note on Thursday, August 13th. Morgan Stanley increased their price target on Performance Food Group from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Citigroup lifted their price objective on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, TD Cowen upped their price target on shares of Performance Food Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average target price of $128.40.

Performance Food Group Trading Down 2.1%

Performance Food Group stock traded down $2.29 during midday trading on Thursday, hitting $107.39. 2,930,214 shares of the stock were exchanged, compared to its average volume of 1,282,779. The stock has a market capitalization of $16.92 billion, a PE ratio of 42.79, a P/E/G ratio of 1.30 and a beta of 0.91. The company has a fifty day simple moving average of $95.84 and a two-hundred day simple moving average of $97.65. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $117.47.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 4th. The food distribution company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $18.02 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that Performance Food Group will post 5.59 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 8,008 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $834,513.68. Following the sale, the insider owned 43,986 shares in the company, valued at approximately $4,583,781.06. The trade was a 15.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider A. King sold 8,023 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $836,076.83. Following the transaction, the insider directly owned 47,800 shares of the company’s stock, valued at approximately $4,981,238. This trade represents a 14.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,459 shares of company stock valued at $4,317,917 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Performance Food Group in the second quarter valued at $1,576,983,000. Primecap Management Co. CA bought a new stake in Performance Food Group during the 2nd quarter worth about $305,064,000. Dimensional Fund Advisors LP boosted its stake in shares of Performance Food Group by 32.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock worth $215,418,000 after buying an additional 619,572 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Performance Food Group during the 2nd quarter worth about $105,756,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Performance Food Group during the 2nd quarter worth about $94,236,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Key Performance Food Group News

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Performance Food Group reported fiscal first-quarter earnings of $1.32 per share, beating the $1.27 consensus estimate. Revenue was $18.02 billion, in line with expectations and up 5.5% year over year. The earnings beat was cited as the catalyst for a sharp rise in the shares. Performance Food Group Stock Jumps After Earnings Beat
• Positive Sentiment: UBS raised its price target to $133 from $130 and reiterated a Buy rating, signaling continued confidence in the stock’s potential. UBS Group stock recommendations
• Positive Sentiment: Sanford C. Bernstein lifted its target to $135 from $130 and maintained an Outperform rating, reinforcing the bullish analyst view. Tickerreport coverage
• Positive Sentiment: A TD Cowen analyst also expects PFGC shares to rise, adding to the favorable analyst commentary following the earnings report. TD Cowen analyst outlook

Performance Food Group Company Profile

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.