Performance Food Group (NYSE:PFGC) Stock Price Expected to Rise, Truist Financial Analyst Says

Performance Food Group (NYSE:PFGC) had its price target hoisted by analysts at Truist Financial from $88.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the food distribution company’s stock. Truist Financial’s price target indicates a potential upside of 18.38% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Barclays boosted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group upped their target price on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Guggenheim lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.50.

Performance Food Group Stock Down 0.0 %

PFGC stock traded down $0.01 during trading on Friday, reaching $85.32. 43,510 shares of the company traded hands, compared to its average volume of 1,022,424. Performance Food Group has a 12 month low of $59.35 and a 12 month high of $89.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The business has a 50 day simple moving average of $78.39 and a 200 day simple moving average of $71.94.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.05). Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter last year, the company posted $1.15 EPS. Performance Food Group’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the sale, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,500 shares of company stock worth $7,426,075. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Performance Food Group by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock worth $354,000 after acquiring an additional 139 shares in the last quarter. Creative Planning raised its holdings in Performance Food Group by 1.2% during the third quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock worth $916,000 after purchasing an additional 140 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Performance Food Group by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock valued at $469,000 after purchasing an additional 160 shares during the period. Cetera Investment Advisers increased its position in Performance Food Group by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after purchasing an additional 186 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Performance Food Group by 1.9% in the 1st quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 96.87% 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 through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.