Performance Food Group (NYSE:PFGC) Given New $96.00 Price Target at Morgan Stanley

Performance Food Group (NYSE:PFGC - Get Free Report) had its target price raised by stock analysts at Morgan Stanley from $93.00 to $96.00 in a report released on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the food distribution company's stock. Morgan Stanley's target price points to a potential downside of 1.46% from the stock's current price.

Several other research firms have also recently weighed in on PFGC. 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. Truist Financial decreased their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Barclays upped their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Finally, Citigroup initiated coverage on Performance Food Group in a report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Performance Food Group Trading Up 2.8%

NYSE:PFGC traded up $2.62 on Monday, reaching $97.43. The company's stock had a trading volume of 5,792,609 shares, compared to its average volume of 1,228,027. Performance Food Group has a 1-year low of $63.24 and a 1-year high of $98.18. The business's 50-day moving average price is $87.14 and its two-hundred day moving average price is $83.73. The firm has a market cap of $15.21 billion, a PE ratio of 40.59, a PEG ratio of 1.33 and a beta of 1.15. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The company had revenue of $15.31 billion for 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 earned $0.80 earnings per share. Equities 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 Hugh Patrick Hatcher sold 2,000 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $95.00, for a total transaction of $190,000.00. Following the completion of the sale, the insider directly owned 35,239 shares in the company, valued at $3,347,705. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erika T. Davis sold 8,200 shares of Performance Food Group stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $89.72, for a total value of $735,704.00. Following the completion of the transaction, the insider owned 46,722 shares in the company, valued at approximately $4,191,897.84. The trade was a 14.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,837 shares of company stock worth $6,901,248 in the last three months. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighPoint Advisor Group LLC increased its stake in shares of Performance Food Group by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company's stock valued at $389,000 after buying an additional 121 shares during the period. Stifel Financial Corp grew its holdings in Performance Food Group by 4.6% during the 4th quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company's stock worth $248,000 after acquiring an additional 130 shares during the last quarter. CWM LLC increased its position in Performance Food Group by 8.6% in the 1st quarter. CWM LLC now owns 2,332 shares of the food distribution company's stock valued at $183,000 after acquiring an additional 185 shares during the period. QRG Capital Management Inc. raised its stake in shares of Performance Food Group by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company's stock valued at $366,000 after acquiring an additional 208 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Performance Food Group by 6.9% during the first quarter. Valeo Financial Advisors LLC now owns 3,260 shares of the food distribution company's stock worth $256,000 after purchasing an additional 209 shares during the period. Institutional investors own 96.87% of the company's stock.

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.