Buckingham Research Boosts Performance Food Group (NYSE:PFGC) Price Target to $53.00

Performance Food Group (NYSE:PFGC) had its price objective raised by Buckingham Research from $47.00 to $53.00 in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the food distribution company’s stock.

Several other brokerages have also weighed in on PFGC. Wells Fargo & Co increased their price objective on Performance Food Group from $45.00 to $50.00 and gave the company an outperform rating in a report on Tuesday, July 30th. Bank of America began coverage on Performance Food Group in a report on Wednesday, April 17th. They set a buy rating and a $45.00 price objective for the company. Guggenheim reissued a buy rating and set a $50.00 price objective (up from $46.00) on shares of Performance Food Group in a report on Thursday. Zacks Investment Research raised Performance Food Group from a sell rating to a hold rating in a report on Wednesday. Finally, BMO Capital Markets raised their price target on Performance Food Group to $52.00 and gave the stock an outperform rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Performance Food Group presently has a consensus rating of Buy and a consensus price target of $46.89.

Shares of NYSE PFGC opened at $45.60 on Thursday. The stock has a fifty day simple moving average of $42.64 and a two-hundred day simple moving average of $40.13. Performance Food Group has a 1-year low of $28.05 and a 1-year high of $46.65. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.97 and a beta of 0.66. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.95.



Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Performance Food Group had a return on equity of 16.18% and a net margin of 0.84%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the company earned $0.53 earnings per share. Performance Food Group’s revenue was up 28.4% compared to the same quarter last year. Analysts forecast that Performance Food Group will post 1.98 EPS for the current year.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $43.83, for a total value of $306,810.00. Following the completion of the transaction, the insider now directly owns 141,006 shares of the company’s stock, valued at $6,180,292.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 21,000 shares of company stock valued at $861,280 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Several hedge funds have recently modified their holdings of PFGC. NEXT Financial Group Inc boosted its position in shares of Performance Food Group by 12.9% during the 2nd quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after purchasing an additional 242 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Performance Food Group by 75.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the food distribution company’s stock worth $28,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue raised its holdings in Performance Food Group by 3.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,789 shares of the food distribution company’s stock worth $351,000 after buying an additional 328 shares during the period. Bessemer Group Inc. raised its holdings in Performance Food Group by 0.3% during the 2nd quarter. Bessemer Group Inc. now owns 118,500 shares of the food distribution company’s stock worth $4,744,000 after buying an additional 400 shares during the period. Finally, Zeke Capital Advisors LLC raised its holdings in Performance Food Group by 3.0% during the 2nd quarter. Zeke Capital Advisors LLC now owns 14,017 shares of the food distribution company’s stock worth $561,000 after buying an additional 409 shares during the period. Institutional investors own 95.77% of the company’s stock.

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 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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