Performance Food Group (NYSE:PFGC) Price Target Raised to $110.00 at UBS Group

Performance Food Group (NYSE:PFGC) had its target price raised by stock analysts at UBS Group from $103.00 to $110.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the food distribution company’s stock. UBS Group’s target price indicates a potential upside of 22.80% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley upped their price target on shares of Performance Food Group from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday. Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the stock an “overweight” rating in a research note on Thursday. Citigroup initiated coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They issued a “buy” rating and a $121.00 price target on the stock. Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Barclays upped their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $89.58 on Thursday. The company’s fifty day moving average is $80.86 and its two-hundred day moving average is $83.58. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The company has a market cap of $13.98 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. During the same period last year, the firm earned $0.80 earnings per share. Performance Food Group’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts expect that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider A Brent King sold 12,866 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the completion of the sale, the insider now directly owns 60,952 shares in the company, valued at $5,486,899.04. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erika T. Davis sold 8,200 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $89.72, for a total transaction of $735,704.00. Following the sale, the insider now owns 46,722 shares of the company’s stock, valued at $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,568 shares of company stock worth $5,747,713. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds have recently bought and sold shares of PFGC. Victory Capital Management Inc. boosted its holdings in Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after acquiring an additional 2,371,818 shares during the period. Norges Bank bought a new stake in Performance Food Group during the fourth quarter valued at about $164,471,000. JPMorgan Chase & Co. boosted its holdings in Performance Food Group by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 5,187,869 shares of the food distribution company’s stock valued at $407,922,000 after acquiring an additional 1,503,703 shares during the period. Junto Capital Management LP boosted its holdings in Performance Food Group by 419.9% during the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company’s stock valued at $118,884,000 after acquiring an additional 1,135,641 shares during the period. Finally, Nuveen LLC bought a new stake in Performance Food Group during the first quarter valued at about $69,456,000. 96.87% of the stock is currently owned by institutional investors.

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.