Performance Food Group (NYSE:PFGC) PT Raised to $52.00 at Bank of America

Performance Food Group (NYSE:PFGC) had its price target raised by stock analysts at Bank of America from $45.00 to $52.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the food distribution company’s stock. Bank of America‘s price objective indicates a potential upside of 18.10% from the stock’s current price.

PFGC has been the topic of several other reports. Guggenheim reaffirmed a “buy” rating and issued a $50.00 target price (up from $46.00) on shares of Performance Food Group in a research note on Thursday, August 15th. BMO Capital Markets lifted their target price on shares of Performance Food Group to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Zacks Investment Research raised shares of Performance Food Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Buckingham Research boosted their price objective on shares of Performance Food Group from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, ValuEngine downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Performance Food Group has an average rating of “Buy” and a consensus target price of $47.67.

Shares of NYSE PFGC traded down $1.18 during mid-day trading on Wednesday, hitting $44.03. The stock had a trading volume of 2,007,120 shares, compared to its average volume of 637,739. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.77 and a current ratio of 1.57. Performance Food Group has a 1 year low of $28.05 and a 1 year high of $47.26. The business has a 50 day moving average price of $46.11 and a two-hundred day moving average price of $42.05. The firm has a market cap of $4.87 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.99 and a beta of 0.62.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 14th. The food distribution company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Performance Food Group had a net margin of 0.84% and a return on equity of 15.86%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. Equities research analysts predict that Performance Food Group will post 1.99 EPS for the current fiscal year.

In other news, insider Christine R. Vlahcevic sold 7,879 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $45.27, for a total value of $356,682.33. Following the sale, the insider now directly owns 19,807 shares of the company’s stock, valued at approximately $896,662.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick T. Hagerty sold 7,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.57, for a total transaction of $325,990.00. Following the completion of the sale, the insider now directly owns 138,406 shares in the company, valued at $6,445,567.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,879 shares of company stock worth $989,482. Insiders own 3.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Convergence Investment Partners LLC purchased a new stake in shares of Performance Food Group in the 2nd quarter worth about $185,000. Boston Advisors LLC grew its position in shares of Performance Food Group by 15.8% in the 2nd quarter. Boston Advisors LLC now owns 40,412 shares of the food distribution company’s stock worth $1,618,000 after buying an additional 5,512 shares during the period. Bessemer Group Inc. grew its position in shares of Performance Food Group by 0.3% in 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. BlackRock Inc. grew its position in shares of Performance Food Group by 2.9% in the 1st quarter. BlackRock Inc. now owns 7,570,996 shares of the food distribution company’s stock worth $300,114,000 after buying an additional 212,027 shares during the period. Finally, Strs Ohio grew its position in shares of Performance Food Group by 7.5% in the 2nd quarter. Strs Ohio now owns 38,700 shares of the food distribution company’s stock worth $1,549,000 after buying an additional 2,700 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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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