Performance Food Group (NYSE:PFGC) Given Equal Weight Rating at Morgan Stanley

Performance Food Group (NYSE:PFGC)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $92.00 price objective on the food distribution company’s stock. Morgan Stanley’s price target would suggest a potential upside of 12.52% from the stock’s current price.

Other equities analysts have also issued reports about the stock. 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 report on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays lifted their price target on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial boosted 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.88.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $81.76 on Monday. The company’s fifty day moving average price is $77.44 and its 200 day moving average price is $71.39. Performance Food Group has a 1 year low of $55.15 and a 1 year high of $83.70. The company has a market capitalization of $12.74 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 0.83 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 (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. On average, research analysts predict that Performance Food Group will post 4.88 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the sale, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction on 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 sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,500 shares of company stock valued at $7,426,075. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. lifted its holdings in Performance Food Group by 34.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 388,712 shares of the food distribution company’s stock valued at $29,013,000 after purchasing an additional 99,110 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Performance Food Group by 12.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company’s stock valued at $396,000 after acquiring an additional 584 shares during the last quarter. State of Michigan Retirement System increased its position in Performance Food Group by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 38,203 shares of the food distribution company’s stock worth $2,851,000 after purchasing an additional 900 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Performance Food Group during the 1st quarter valued at approximately $208,000. Finally, Smith Group Asset Management LLC boosted its stake in shares of Performance Food Group by 11.9% during the 1st quarter. Smith Group Asset Management LLC now owns 230,552 shares of the food distribution company’s stock valued at $17,208,000 after buying an additional 24,544 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.