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.
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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