Brokerages Set Performance Food Group Co (NYSE:PFGC) Target Price at $38.90

Shares of Performance Food Group Co (NYSE:PFGC) have received a consensus rating of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.00.

A number of analysts have issued reports on PFGC shares. Bank of America started coverage on shares of Performance Food Group in a report on Wednesday, April 17th. They issued a “buy” rating and a $45.00 price target on the stock. Zacks Investment Research downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, April 11th.

NYSE PFGC traded up $0.23 on Wednesday, reaching $40.76. The company had a trading volume of 238,700 shares, compared to its average volume of 628,896. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 1.45. The company has a market cap of $4.21 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.93 and a beta of 0.70. Performance Food Group has a 12 month low of $28.05 and a 12 month high of $41.85.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.67 billion. Performance Food Group had a net margin of 0.91% and a return on equity of 14.91%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, analysts forecast that Performance Food Group will post 1.78 EPS for the current fiscal year.

In related news, insider Patrick T. Hagerty sold 7,450 shares of Performance Food Group stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $40.85, for a total transaction of $304,332.50. Following the completion of the transaction, the insider now directly owns 169,006 shares of the company’s stock, valued at approximately $6,903,895.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $39.71, for a total transaction of $277,970.00. Following the completion of the sale, the insider now directly owns 169,456 shares of the company’s stock, valued at $6,729,097.76. The disclosure for this sale can be found here. Insiders sold a total of 32,159 shares of company stock valued at $1,282,093 over the last three months. Corporate insiders own 3.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Performance Food Group by 75.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the food distribution company’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Performance Food Group during the 4th quarter worth approximately $29,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Performance Food Group by 75.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,828 shares of the food distribution company’s stock worth $73,000 after acquiring an additional 788 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Performance Food Group by 19.8% during the 4th quarter. Advisor Group Inc. now owns 1,834 shares of the food distribution company’s stock worth $59,000 after acquiring an additional 303 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Performance Food Group during the 4th quarter worth approximately $78,000. 95.73% of the stock is 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 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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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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