TD Cowen Issues Positive Forecast for Performance Food Group (NYSE:PFGC) Stock Price

Key Points

• TD Cowen raised its price target on Performance Food Group from $110 to $125 and maintained a Buy rating, implying 13.24% upside from the prior close.
• Analyst sentiment is broadly positive: 11 analysts rate the stock Buy and two rate it Hold, for a consensus “Moderate Buy” rating and $127.67 average price target.
• The company reported quarterly EPS of $1.32, topping estimates, while revenue rose 5.5% year over year to $18.02 billion, in line with expectations.

Performance Food Group (NYSE:PFGC - Get Free Report) had its target price boosted by stock analysts at TD Cowen from $110.00 to $125.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the food distribution company's stock. TD Cowen's price objective points to a potential upside of 13.24% from the company's previous close.

A number of other equities research analysts have also issued reports on PFGC. Morgan Stanley upped their target price on shares of Performance Food Group from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. UBS Group decreased their price target on Performance Food Group from $132.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, August 14th. BMO Capital Markets reissued an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. Sanford C. Bernstein restated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, Citigroup increased their target price on Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and a consensus price target of $127.67.

Performance Food Group Stock Up 14.4%

PFGC stock traded up $13.88 during midday trading on Wednesday, hitting $110.39. 3,960,348 shares of the company's stock were exchanged, compared to its average volume of 1,855,952. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group has a 12-month low of $80.82 and a 12-month high of $117.47. The firm has a 50 day moving average price of $95.49 and a 200-day moving average price of $97.46. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 48.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91.

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

Insider Activity

In related news, insider Erika Davis sold 8,008 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $104.21, for a total value of $834,513.68. Following the sale, the insider owned 43,986 shares of the company's stock, valued at $4,583,781.06. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A. King sold 8,023 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $104.21, for a total transaction of $836,076.83. Following the completion of the sale, the insider directly owned 47,800 shares in the company, valued at approximately $4,981,238. This trade represents a 14.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,459 shares of company stock worth $4,317,917 over the last ninety days. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Performance Food Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaCore Capital LLC bought a new position in shares of Performance Food Group in the third quarter valued at $480,000. Brighton Jones LLC purchased a new position in Performance Food Group in the 3rd quarter worth about $760,000. CenterBook Partners LP acquired a new stake in Performance Food Group during the 3rd quarter worth about $420,000. Heritage Family Offices LLP acquired a new stake in Performance Food Group during the 3rd quarter worth about $63,000. Finally, Capstone Wealth Management LLC acquired a new stake in Performance Food Group during the 3rd quarter worth about $246,000. Institutional investors own 96.87% of the company's stock.

Key Headlines Impacting Performance Food Group

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

• Positive Sentiment: Adjusted EPS was $1.32, above analysts’ estimates of about $1.26–$1.27 and up from $1.18 a year earlier. Net income increased 38%, with growth in independent customer cases cited as a contributor. Article: Performance Food Group Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management expects sales to increase in the second quarter and maintained its fiscal 2027 outlook, offering reassurance that the company’s annual expectations remain intact. Article: Performance Food Group Q1 Results Improve, Expects Q2 Sales To Rise; Backs Annual Outlook
• Neutral Sentiment: Quarterly net sales were $18.02 billion, up 5.5% year over year and broadly in line with analyst expectations, so revenue growth was solid but not a clear consensus surprise. Article: Performance Food Group Fiscal Q1 Adjusted Earnings, Net Sales Rise

About Performance Food Group

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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