Morgan Stanley Boosts Performance Food Group (NYSE:PFGC) Price Target to $80.00

Performance Food Group (NYSE:PFGC - Free Report) had its price objective boosted by Morgan Stanley from $78.00 to $80.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the food distribution company's stock.

A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets raised their price objective on Performance Food Group from $78.00 to $80.00 and gave the company an outperform rating in a report on Thursday, February 8th. Barclays raised their price objective on Performance Food Group from $78.00 to $86.00 and gave the company an overweight rating in a report on Thursday, February 8th. StockNews.com raised Performance Food Group from a hold rating to a buy rating in a research note on Thursday, February 8th. Finally, Stephens lifted their price objective on Performance Food Group from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $81.25.

Performance Food Group Stock Performance

Shares of PFGC stock traded down $2.00 on Friday, hitting $69.22. 1,084,649 shares of the stock were exchanged, compared to its average volume of 892,644. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $10.77 billion, a PE ratio of 25.26, a P/E/G ratio of 1.01 and a beta of 1.38. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The firm's 50 day moving average is $74.42 and its two-hundred day moving average is $67.59.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $14.20 billion. During the same period in the previous year, the business earned $0.83 EPS. The business's revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in Performance Food Group during the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in Performance Food Group during the fourth quarter valued at $29,000. Rise Advisors LLC purchased a new stake in Performance Food Group during the first quarter valued at $29,000. Signaturefd LLC increased its position in Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company's stock valued at $35,000 after acquiring an additional 143 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in Performance Food Group during the first quarter valued at $44,000. 96.87% of the stock is owned by institutional investors.

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.