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

Performance Food Group (NYSE:PFGC) had its price objective hoisted by Barclays from $88.00 to $98.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the food distribution company’s stock.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company lifted their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial upped their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group raised their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets boosted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley reduced their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.88.

Performance Food Group Price Performance

PFGC stock opened at $82.54 on Tuesday. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The company has a fifty day moving average price of $76.56 and a 200 day moving average price of $71.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. Performance Food Group has a 12 month low of $54.71 and a 12 month high of $83.70.

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

Insiders Place Their Bets

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

Institutional Trading of Performance Food Group

Large investors have recently modified their holdings of the business. Blue Trust Inc. lifted its stake 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 valued at $26,000 after buying an additional 242 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Performance Food Group by 414.8% in 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 in the last quarter. Innealta Capital LLC acquired a new stake in shares of Performance Food Group during the second quarter valued at $30,000. V Square Quantitative Management LLC purchased a new stake in Performance Food Group during the 3rd quarter worth about $36,000. Finally, Mather Group LLC. acquired a new position in Performance Food Group in the 1st quarter valued at about $44,000. 96.87% of the stock is currently 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.