Performance Food Group (NYSE:PFGC) Price Target Cut to $84.00 by Analysts at Barclays

Performance Food Group (NYSE:PFGC - Get Free Report) had its target price cut by equities research analysts at Barclays from $86.00 to $84.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the food distribution company's stock. Barclays's target price suggests a potential upside of 18.33% from the stock's current price.

PFGC has been the topic of a number of other reports. BMO Capital Markets increased their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, February 8th. Stephens increased their target price on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Morgan Stanley increased their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, April 12th. Finally, StockNews.com upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Performance Food Group presently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

Performance Food Group Trading Up 2.6 %

Shares of PFGC stock traded up $1.81 during trading hours on Thursday, hitting $70.99. The company had a trading volume of 1,453,843 shares, compared to its average volume of 985,560. The company's fifty day moving average is $72.57 and its 200 day moving average is $69.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The stock has a market capitalization of $11.05 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Research 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

A number of hedge funds and other institutional investors have recently modified their holdings of PFGC. Point72 Asset Management L.P. grew its position in shares of Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company's stock valued at $152,011,000 after buying an additional 1,770,683 shares during the last quarter. Norges Bank purchased a new position in shares of Performance Food Group in the 4th quarter valued at $119,726,000. Clearbridge Investments LLC grew its position in shares of Performance Food Group by 16.1% in the 3rd quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company's stock valued at $373,684,000 after buying an additional 879,232 shares during the last quarter. Earnest Partners LLC grew its position in shares of Performance Food Group by 162.5% in the 3rd quarter. Earnest Partners LLC now owns 768,432 shares of the food distribution company's stock valued at $45,230,000 after buying an additional 475,683 shares during the last quarter. Finally, Palestra Capital Management LLC grew its position in shares of Performance Food Group by 25.1% in the 3rd quarter. Palestra Capital Management LLC now owns 2,259,010 shares of the food distribution company's stock valued at $132,965,000 after buying an additional 453,453 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.