Morgan Stanley Increases Performance Food Group (NYSE:PFGC) Price Target to $74.00

Performance Food Group (NYSE:PFGC – Get Rating) had its target price boosted by equities researchers at Morgan Stanley from $67.00 to $74.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the food distribution company’s stock. Morgan Stanley’s price target would suggest a potential upside of 26.43% from the company’s current price.

A number of other analysts have also recently commented on PFGC. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Truist Financial upped their price target on shares of Performance Food Group from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Performance Food Group from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 14th. Wells Fargo & Company increased their target price on shares of Performance Food Group from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. Finally, Stephens reiterated an “overweight” rating and issued a $68.00 target price on shares of Performance Food Group in a research note on Friday, January 13th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $70.91.

Performance Food Group Stock Down 0.8 %

PFGC opened at $58.53 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.64 and a debt-to-equity ratio of 1.19. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 44.68 and a beta of 1.36. Performance Food Group has a twelve month low of $38.23 and a twelve month high of $62.00. The company’s 50-day moving average price is $59.23 and its two-hundred day moving average price is $52.68.

Performance Food Group (NYSE:PFGC – Get Rating) last released its earnings results on Wednesday, November 9th. The food distribution company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.29. The firm had revenue of $14.72 billion for the quarter, compared to analysts’ expectations of $14.42 billion. Performance Food Group had a net margin of 0.37% and a return on equity of 15.34%. As a group, equities analysts expect that Performance Food Group will post 3.84 earnings per share for the current year.

Insider Transactions at Performance Food Group

In other news, insider Patrick T. Hagerty sold 500 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $52.35, for a total value of $26,175.00. Following the transaction, the insider now owns 155,790 shares of the company’s stock, valued at approximately $8,155,606.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kimberly Grant sold 3,000 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $59.46, for a total transaction of $178,380.00. Following the transaction, the director now owns 11,416 shares of the company’s stock, valued at approximately $678,795.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Patrick T. Hagerty sold 500 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $52.35, for a total transaction of $26,175.00. Following the transaction, the insider now directly owns 155,790 shares in the company, valued at approximately $8,155,606.50. The disclosure for this sale can be found here. Insiders have sold 8,710 shares of company stock valued at $515,552 in the last quarter. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System bought a new position in shares of Performance Food Group during the 4th quarter valued at $683,000. Diversified Trust Co grew its holdings in shares of Performance Food Group by 2.4% during the 4th quarter. Diversified Trust Co now owns 13,055 shares of the food distribution company’s stock valued at $762,000 after purchasing an additional 303 shares during the last quarter. Howard Capital Management Group LLC bought a new position in shares of Performance Food Group during the 4th quarter valued at $212,000. Armstrong Advisory Group Inc. bought a new position in shares of Performance Food Group during the 4th quarter valued at $38,000. Finally, First Heartland Consultants Inc. bought a new position in shares of Performance Food Group during the 4th quarter valued at $204,000. Institutional investors own 97.35% of the company’s stock.

Performance Food Group Company Profile

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Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice, Vistar, & Convenience. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.