Barclays Boosts Performance Food Group (NYSE:PFGC) Price Target to $47.00

Performance Food Group (NYSE:PFGC) had its price objective lifted by equities research analysts at Barclays from $44.00 to $47.00 in a research note issued on Thursday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the food distribution company’s stock. Barclays‘s price objective would suggest a potential upside of 6.48% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Guggenheim restated a “buy” rating and issued a $50.00 price objective (up from $46.00) on shares of Performance Food Group in a report on Thursday, August 15th. Loop Capital boosted their price objective on shares of Performance Food Group to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Zacks Investment Research upgraded shares of Performance Food Group from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of Performance Food Group from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America lifted their target price on shares of Performance Food Group from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Performance Food Group has an average rating of “Buy” and an average target price of $48.10.

Shares of PFGC traded down $1.61 during mid-day trading on Thursday, reaching $44.14. The company’s stock had a trading volume of 706,952 shares, compared to its average volume of 630,763. The stock has a market cap of $4.56 billion, a PE ratio of 23.86, a P/E/G ratio of 1.89 and a beta of 0.60. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 1.03. Performance Food Group has a 52 week low of $30.07 and a 52 week high of $47.26. The company’s fifty day moving average price is $44.07 and its two-hundred day moving average price is $42.74.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.15. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.10 billion. Performance Food Group had a net margin of 0.84% and a return on equity of 15.86%. The business’s quarterly revenue was up 37.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. Research analysts anticipate that Performance Food Group will post 1.98 EPS for the current year.

In related news, insider Craig Howard Hoskins sold 17,009 shares of Performance Food Group stock in a transaction on Monday, October 7th. The shares were sold at an average price of $43.91, for a total value of $746,865.19. Following the transaction, the insider now directly owns 123,802 shares of the company’s stock, valued at $5,436,145.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christine R. Vlahcevic sold 7,879 shares of Performance Food Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $45.27, for a total transaction of $356,682.33. Following the completion of the transaction, the insider now directly owns 19,807 shares in the company, valued at $896,662.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,888 shares of company stock worth $1,429,538. 3.40% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. increased its position in Performance Food Group by 8.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,555,700 shares of the food distribution company’s stock valued at $71,578,000 after purchasing an additional 115,035 shares during the period. TimesSquare Capital Management LLC increased its position in Performance Food Group by 41.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 843,800 shares of the food distribution company’s stock valued at $38,823,000 after purchasing an additional 246,350 shares during the period. Eqis Capital Management Inc. purchased a new position in Performance Food Group during the 3rd quarter valued at $204,000. Boston Advisors LLC increased its position in Performance Food Group by 24.1% during the 3rd quarter. Boston Advisors LLC now owns 50,162 shares of the food distribution company’s stock valued at $2,308,000 after purchasing an additional 9,750 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Performance Food Group by 373.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,345 shares of the food distribution company’s stock valued at $246,000 after purchasing an additional 4,215 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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