Performance Food Group Company (NYSE:PFGC) Stock Has Consensus Price Target of $126.40

Key Points

• Analysts remain bullish: Performance Food Group has a consensus “Moderate Buy” rating from 13 analysts, with 12 buys and one hold. The average 12-month price target is $126.40 versus a recent share price of $91.64.
• Quarterly results slightly missed expectations: The company reported earnings of $1.59 per share versus the $1.60 consensus estimate and revenue of $18.03 billion, up 6.7% year over year but below forecasts.
• Insiders have been selling shares: Insiders sold 41,459 shares worth approximately $4.3 million in the last quarter, while institutional investors own 96.87% of the company’s stock.

Performance Food Group Company (NYSE:PFGC - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $126.40.

Several research firms have weighed in on PFGC. TD Cowen dropped their target price on shares of Performance Food Group from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, September 11th. BMO Capital Markets reiterated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $133.00 price objective on shares of Performance Food Group in a report on Thursday, August 13th. Sanford C. Bernstein reissued an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, Citigroup raised their target price on Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th.

Performance Food Group Trading Down 0.4%

NYSE:PFGC opened at $91.64 on Thursday. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 1.18 and a beta of 0.88. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $117.47. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $102.26 and a 200 day moving average of $98.71.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The firm had revenue of $18.03 billion during the quarter, compared to analysts' expectations of $18.11 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. Performance Food Group's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Performance Food Group will post 5.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Erika T. Davis sold 1,320 shares of Performance Food Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the sale, the insider owned 40,402 shares of the company's stock, valued at $4,253,926.58. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hugh Hatcher sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total value of $297,540.00. Following the completion of the sale, the insider owned 58,167 shares in the company, valued at approximately $5,769,003.06. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 41,459 shares of company stock worth $4,317,917. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PFGC. Cedar Mountain Advisors LLC purchased a new stake in Performance Food Group in the first quarter valued at $28,000. Asset Planning Inc purchased a new position in Performance Food Group during the first quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Performance Food Group in the second quarter valued at approximately $51,000. Transamerica Financial Advisors LLC purchased a new stake in Performance Food Group in the 2nd quarter worth approximately $54,000. Finally, Field & Main Bank purchased a new stake in Performance Food Group in the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

About Performance Food Group

Performance Food Group Co NYSE: PFGC is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC's foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.

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