Performance Food Group (NYSE:PFGC) PT Raised to $62.00

Performance Food Group (NYSE:PFGC) had its price objective upped by Morgan Stanley from $58.00 to $62.00 in a report issued on Monday morning, Analyst Ratings Network reports. They currently have an overweight rating on the food distribution company’s stock.

Several other research firms also recently weighed in on PFGC. Barclays raised Performance Food Group from an equal weight rating to an overweight rating and raised their price target for the stock from $46.00 to $60.00 in a research report on Wednesday, January 6th. Piper Sandler initiated coverage on Performance Food Group in a research report on Friday, April 9th. They set an overweight rating and a $64.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Performance Food Group from $56.00 to $62.00 and gave the stock an overweight rating in a research note on Wednesday, January 27th. BMO Capital Markets lifted their price target on shares of Performance Food Group from $52.00 to $58.00 and gave the stock an outperform rating in a report on Thursday, February 4th. Finally, Zacks Investment Research downgraded shares of Performance Food Group from a buy rating to a hold rating in a research note on Wednesday, April 7th. Ten investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $58.00.

Shares of NYSE PFGC opened at $56.41 on Monday. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of -48.63 and a beta of 1.55. The company’s 50-day moving average price is $56.46 and its 200 day moving average price is $47.69. Performance Food Group has a 52 week low of $19.63 and a 52 week high of $59.89.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Tuesday, February 2nd. The food distribution company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.26 by $0.09. Performance Food Group had a negative net margin of 0.58% and a positive return on equity of 2.92%. The business had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the business earned $0.58 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Performance Food Group will post 1.12 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in shares of Performance Food Group by 80.4% in the 3rd quarter. Morgan Stanley now owns 112,365 shares of the food distribution company’s stock valued at $3,890,000 after purchasing an additional 50,077 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in Performance Food Group in the third quarter valued at $739,000. Squarepoint Ops LLC acquired a new position in Performance Food Group in the third quarter valued at $1,219,000. Cubist Systematic Strategies LLC grew its position in Performance Food Group by 21,039.8% during the third quarter. Cubist Systematic Strategies LLC now owns 126,839 shares of the food distribution company’s stock valued at $4,391,000 after acquiring an additional 126,239 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Performance Food Group during the third quarter worth about $284,000. Hedge funds and other institutional investors own 96.10% 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 two segments, Foodservice 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.

Featured Story: Understanding Market Liquidity

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.