Performance Food Group (NYSE:PFGC) Stock Price Expected to Rise, UBS Group Analyst Says

Performance Food Group (NYSE:PFGC - Free Report) had its target price hoisted by UBS Group from $103.00 to $110.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the food distribution company's stock.

A number of other research analysts also recently commented on the company. Citigroup started coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective on the stock. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an "overweight" rating in a report on Thursday. Truist Financial dropped their price objective on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barclays increased their price objective on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Morgan Stanley increased their price objective on Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.08.

Performance Food Group Trading Up 0.3%

Shares of PFGC stock traded up $0.29 on Thursday, hitting $89.58. The stock had a trading volume of 1,204,432 shares, compared to its average volume of 1,120,639. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The firm has a market capitalization of $13.98 billion, a P/E ratio of 36.12, a P/E/G ratio of 0.96 and a beta of 1.13. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company's 50 day moving average price is $80.86 and its 200-day moving average price is $83.58.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The company had revenue of $15.31 billion for the quarter, compared to analysts' expectations of $15.41 billion. During the same quarter last year, the company earned $0.80 EPS. Performance Food Group's revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider A Brent King sold 11,104 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $88.69, for a total value of $984,813.76. Following the completion of the sale, the insider now directly owns 65,952 shares of the company's stock, valued at $5,849,282.88. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Howard Hoskins sold 19,113 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the completion of the sale, the insider now directly owns 152,293 shares of the company's stock, valued at $13,333,252.15. This represents a 11.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,568 shares of company stock valued at $5,747,713. 2.80% of the stock is owned by company insiders.

Institutional Trading of Performance Food Group

Several hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $7,524,000. Woodline Partners LP acquired a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $20,030,000. Empowered Funds LLC acquired a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $359,000. Coppell Advisory Solutions LLC lifted its holdings in shares of Performance Food Group by 10,786.7% in the 1st quarter. Coppell Advisory Solutions LLC now owns 9,036 shares of the food distribution company's stock valued at $711,000 after buying an additional 8,953 shares during the period. Finally, Aristeia Capital L.L.C. lifted its holdings in shares of Performance Food Group by 30.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 5,070 shares of the food distribution company's stock valued at $399,000 after buying an additional 1,189 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Company Profile

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.