Sanford C. Bernstein Issues Positive Forecast for Performance Food Group (NYSE:PFGC) Stock Price

Key Points

• Sanford C. Bernstein raised its price target on Performance Food Group to $135 from $130 and maintained an “outperform” rating, implying 23.7% upside from the stock’s then-current price.
• Analyst sentiment was broadly positive: 11 analysts rated the stock Buy and two rated it Hold, for a “Moderate Buy” consensus and an average price target of $128.40.
• Fiscal first-quarter adjusted EPS of $1.32 beat estimates of $1.27, while revenue of $18.02 billion met expectations and grew 5.5% year over year.

Performance Food Group (NYSE:PFGC - Get Free Report) had its target price raised by research analysts at Sanford C. Bernstein from $130.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the food distribution company's stock. Sanford C. Bernstein's price target indicates a potential upside of 23.70% from the company's current price.

A number of other equities analysts have also commented on the stock. Citigroup increased their price target on shares of Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Weiss Ratings downgraded shares of Performance Food Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Morgan Stanley increased their target price on Performance Food Group from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Finally, Wells Fargo & Company increased their target price on Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.40.

Performance Food Group Price Performance

NYSE:PFGC traded down $0.43 during trading hours on Thursday, hitting $109.14. 860,574 shares of the company's stock traded hands, compared to its average volume of 1,863,727. The firm has a market cap of $17.19 billion, a P/E ratio of 47.70, a P/E/G ratio of 1.24 and a beta of 0.91. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $117.47. The business's fifty day simple moving average is $95.58 and its two-hundred day simple moving average is $97.52. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, November 4th. The food distribution company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $18.02 billion for the quarter, compared to analyst estimates of $18.02 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. On average, research analysts anticipate that Performance Food Group will post 5.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider A. King sold 8,023 shares of Performance Food Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total value of $836,076.83. Following the transaction, the insider owned 47,800 shares in the company, valued at $4,981,238. This trade represents a 14.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hugh Hatcher sold 3,000 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the completion of the sale, the insider directly owned 58,167 shares of the company's stock, valued at $5,769,003.06. This represents a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,459 shares of company stock worth $4,317,917 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Performance Food Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC bought a new stake in Performance Food Group in the first quarter worth $28,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Performance Food Group during the third quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Performance Food Group during the second quarter valued at $51,000. Transamerica Financial Advisors LLC purchased a new position in shares of Performance Food Group in the 2nd quarter worth $54,000. Finally, Covestor Ltd grew its stake in shares of Performance Food Group by 526.6% in the 3rd quarter. Covestor Ltd now owns 495 shares of the food distribution company's stock worth $45,000 after buying an additional 416 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Performance Food Group News Summary

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal Q1 adjusted EPS was $1.32, topping consensus estimates of about $1.26–$1.27. Revenue rose 5.5% year over year to $18.02 billion, in line with expectations; coverage also highlighted stronger net income and growth in independent-customer cases. Performance Food Group Q1 Results Improve, Expects Q2 Sales To Rise; Backs Annual Outlook
• Positive Sentiment: TD Cowen raised its price target to $125 from $110 and maintained a Buy rating, signaling increased analyst confidence in the shares. TD Cowen Stock Recommendations
• Positive Sentiment: Management expects sales to rise in Q2 and reaffirmed its fiscal 2027 annual outlook, providing reassurance that the company remains on track. Performance Food Group Maintains FY27 Net Sales Outlook

Performance Food Group Company Profile

Performance Food Group Co NYSE: PFGC is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.

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