Barclays Forecasts Strong Price Appreciation for Performance Food Group (NYSE:PFGC) Stock

Performance Food Group (NYSE:PFGC - Free Report) had its price target boosted by Barclays from $100.00 to $112.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the food distribution company's stock.

A number of other research firms also recently weighed in on PFGC. Piper Sandler downgraded Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the company an "overweight" rating in a research note on Thursday. Citigroup began coverage on Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price target on the stock. Finally, Truist Financial decreased their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Five investment 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 stock. According to MarketBeat, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.08.

Performance Food Group Stock Performance

Shares of PFGC stock traded up $0.29 during midday trading on Thursday, hitting $89.58. The company had a trading volume of 1,204,432 shares, compared to its average volume of 1,120,295. The company's 50 day simple moving average is $80.86 and its 200 day simple moving average is $83.57. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its 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 net margin of 0.64% and a return on equity of 16.58%. The company had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. During the same quarter last year, the business posted $0.80 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 8,200 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the sale, the insider now owns 46,722 shares of the company's stock, valued at approximately $4,191,897.84. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider A Brent King sold 12,866 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $90.02, for a total value of $1,158,197.32. Following the completion of the sale, the insider now directly owns 60,952 shares of the company's stock, valued at $5,486,899.04. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,568 shares of company stock valued at $5,747,713. Company insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock valued at $298,794,000 after purchasing an additional 401,235 shares during the last quarter. Blue Trust Inc. boosted its holdings in Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock valued at $42,000 after purchasing an additional 212 shares during the last quarter. KBC Group NV boosted its holdings in Performance Food Group by 46.5% in the fourth quarter. KBC Group NV now owns 6,017 shares of the food distribution company's stock valued at $509,000 after purchasing an additional 1,911 shares during the last quarter. Highland Capital Management LLC boosted its holdings in Performance Food Group by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company's stock valued at $246,000 after purchasing an additional 183 shares during the last quarter. Finally, Custom Index Systems LLC boosted its holdings in Performance Food Group by 4.9% in the fourth quarter. Custom Index Systems LLC now owns 5,794 shares of the food distribution company's stock valued at $490,000 after purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

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.