Barclays Boosts Performance Food Group (NYSE:PFGC) Price Target to $98.00

Performance Food Group (NYSE:PFGC) had its target price raised by investment analysts at Barclays from $88.00 to $98.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the food distribution company’s stock. Barclays‘s price objective suggests a potential upside of 19.05% from the company’s previous close.

PFGC has been the subject of several other reports. BMO Capital Markets raised their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Morgan Stanley cut their price target on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Truist Financial upped their price objective on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group upped their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus price target of $88.88.

Performance Food Group Price Performance

Shares of NYSE:PFGC traded down $0.22 during midday trading on Tuesday, hitting $82.32. The company’s stock had a trading volume of 78,835 shares, compared to its average volume of 1,014,451. The company has a market cap of $12.81 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. Performance Food Group has a 12-month low of $54.71 and a 12-month high of $83.70. The business’s 50 day simple moving average is $76.25 and its 200 day simple moving average is $70.92.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Performance Food Group will post 4.88 EPS for the current year.

Insider Activity at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the sale, the insider now owns 149,863 shares in the company, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock valued at $7,426,075 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Performance Food Group

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after purchasing an additional 242 shares during the period. Innealta Capital LLC acquired a new stake in shares of Performance Food Group during the 2nd quarter valued at approximately $30,000. UMB Bank n.a. boosted its stake in shares of Performance Food Group by 414.8% during the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after acquiring an additional 365 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Performance Food Group during the third quarter worth $36,000. Finally, Mather Group LLC. purchased a new position in Performance Food Group during the 1st quarter valued at about $44,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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.