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.
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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