Truist Financial Raises Performance Food Group (NYSE:PFGC) Price Target to $101.00

Performance Food Group (NYSE:PFGC) had its price objective lifted by investment analysts at Truist Financial from $88.00 to $101.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the food distribution company’s stock. Truist Financial’s price objective indicates a potential upside of 17.48% from the company’s current price.

Several other equities research analysts have also weighed in on PFGC. Morgan Stanley restated an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday. Guggenheim boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays raised their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.50.

Performance Food Group Stock Up 0.8 %

Shares of NYSE PFGC opened at $85.97 on Friday. The firm has a fifty day simple moving average of $78.82 and a two-hundred day simple moving average of $72.15. Performance Food Group has a 12 month low of $59.35 and a 12 month high of $89.00. The company has a current ratio of 1.70, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $13.40 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 earnings per share. Equities analysts expect that Performance Food Group will post 4.84 earnings per share for the current year.

Insider Transactions at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the transaction, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,500 shares of company stock worth $7,426,075. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Performance Food Group by 281.4% in the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Performance Food Group in the 3rd quarter worth $26,000. Venturi Wealth Management LLC grew its holdings in shares of Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after acquiring an additional 274 shares during the period. UMB Bank n.a. increased its position in Performance Food Group by 414.8% during the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Performance Food Group in the second quarter valued at about $30,000. Institutional investors own 96.87% of the company’s stock.

About Performance Food Group

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.