TD Cowen Has Lowered Expectations for Performance Food Group (NYSE:PFGC) Stock Price

Key Points

• TD Cowen lowered its price target for Performance Food Group from $128 to $120 while maintaining a “buy” rating, implying 13.46% upside from the previous close.
• Analysts remain broadly positive, with 12 buy ratings and two holds; the consensus rating is “Moderate Buy” with an average price target of $124.
• Recent quarterly results slightly missed estimates, with EPS of $1.59 versus $1.60 expected and revenue of $18.03 billion versus $18.11 billion forecast, though revenue rose 6.7% year over year.

Performance Food Group (NYSE:PFGC - Get Free Report) had its target price dropped by equities research analysts at TD Cowen from $128.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the food distribution company's stock. TD Cowen's price objective would suggest a potential upside of 13.46% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Guggenheim boosted their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, June 29th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Performance Food Group in a report on Thursday. Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Morgan Stanley upped their price target on Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Performance Food Group in a research note on Wednesday, June 24th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.00.

Performance Food Group Stock Performance

PFGC stock traded down $1.65 during trading on Thursday, reaching $105.76. The stock had a trading volume of 931,761 shares, compared to its average volume of 1,970,788. The firm has a market cap of $16.61 billion, a PE ratio of 50.28, a PEG ratio of 1.43 and a beta of 0.91. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The stock's 50 day moving average is $109.38 and its two-hundred day moving average is $97.82. Performance Food Group has a 52 week low of $80.82 and a 52 week high of $117.47.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business had revenue of $18.03 billion for the quarter, compared to analysts' expectations of $18.11 billion. During the same period in the previous year, the company earned $0.84 EPS. Performance Food Group's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts anticipate that Performance Food Group will post 4.57 earnings per share for the current year.

Insider Buying and Selling

In other Performance Food Group news, Director Kimberly Grant sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the transaction, the director directly owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Erika T. Davis sold 2,595 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $110.00, for a total transaction of $285,450.00. Following the sale, the insider directly owned 40,446 shares of the company's stock, valued at approximately $4,449,060. This trade represents a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,187 shares of company stock valued at $2,743,695. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of Performance Food Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC purchased a new position in shares of Performance Food Group during the first quarter valued at about $28,000. Asset Planning Inc purchased a new stake in shares of Performance Food Group in the first quarter worth about $35,000. Torren Management LLC bought a new position in Performance Food Group during the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. bought a new position in Performance Food Group during the fourth quarter valued at approximately $43,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Performance Food Group during the 2nd quarter valued at approximately $51,000. 96.87% of the stock is currently owned by institutional investors.

More Performance Food Group News

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose approximately 6.4%–6.7% year over year to about $18.0 billion, while net income increased 23.4% to $162.3 million. Diluted EPS rose 22.6% year over year to $1.03 on a GAAP basis, and gross profit increased 8.3% to $2.2 billion. PFGC reports fiscal Q4 net sales of $18.0 billion
• Positive Sentiment: Operating trends were solid, with total case volume up 3.5% and independent foodservice case volume up 8.0%. Foodservice and Convenience benefited from acquisitions and organic growth, helping offset margin pressure in the Specialty segment.
• Positive Sentiment: Management forecast fiscal 2027 revenue of $72.5 billion to $73.0 billion, broadly in line with the $72.6 billion consensus estimate, and projected adjusted EBITDA of approximately $2.125 billion to $2.225 billion. The outlook implies continued growth and potential upside through fiscal 2028. Performance Food Group's Underperformance Gives Investors A Tasty Snack

About Performance Food Group

Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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