Performance Food Group (NYSE:PFGC) Price Target Raised to $96.00 at Morgan Stanley

Performance Food Group (NYSE:PFGC - Get Free Report) had its price objective boosted by analysts at Morgan Stanley from $93.00 to $96.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the food distribution company's stock. Morgan Stanley's price objective would indicate a potential downside of 3.22% from the company's previous close.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. UBS Group raised their price objective on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an "overweight" rating in a research report on Thursday, May 29th. Barclays lifted their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Citigroup initiated coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective for the company. 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Performance Food Group Stock Performance

NYSE PFGC traded down $0.72 during trading on Monday, hitting $99.19. The company's stock had a trading volume of 1,612,852 shares, compared to its average volume of 1,137,537. Performance Food Group has a 52 week low of $63.24 and a 52 week high of $100.26. The firm has a market cap of $15.48 billion, a P/E ratio of 41.31, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The firm has a 50 day moving average price of $88.09 and a 200 day moving average price of $84.02. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The company's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 EPS. Equities research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider Donald S. Bulmer sold 2,404 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $90.00, for a total value of $216,360.00. Following the transaction, the insider owned 51,350 shares of the company's stock, valued at $4,621,500. This represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider A Brent King sold 7,865 shares of Performance Food Group stock in a transaction on Friday, July 11th. The stock was sold at an average price of $95.00, for a total value of $747,175.00. Following the sale, the insider directly owned 61,083 shares of the company's stock, valued at approximately $5,802,885. This trade represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,837 shares of company stock worth $6,901,248 over the last 90 days. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFGC. Capital World Investors raised its position in shares of Performance Food Group by 0.7% in the 4th quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock valued at $1,849,809,000 after acquiring an additional 157,987 shares during the period. FMR LLC raised its holdings in Performance Food Group by 0.6% in the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after purchasing an additional 78,855 shares during the period. Victory Capital Management Inc. raised its holdings in Performance Food Group by 59.3% in the first quarter. Victory Capital Management Inc. now owns 6,229,169 shares of the food distribution company's stock worth $489,800,000 after purchasing an additional 2,318,763 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Performance Food Group by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 5,187,869 shares of the food distribution company's stock worth $407,922,000 after purchasing an additional 1,503,703 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Performance Food Group by 1.5% in the 1st quarter. Wellington Management Group LLP now owns 3,966,667 shares of the food distribution company's stock valued at $311,899,000 after buying an additional 57,032 shares during the period. 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.