Wells Fargo & Company Increases Performance Food Group (NYSE:PFGC) Price Target to $88.00

Performance Food Group (NYSE:PFGC) had its target price boosted by stock analysts at Wells Fargo & Company from $83.00 to $88.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the food distribution company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.90% from the stock’s previous close.

PFGC has been the subject of a number of other research reports. Barclays raised their price objective on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Morgan Stanley decreased their price target on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Truist Financial raised their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets boosted their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.63.

Performance Food Group Stock Up 2.1 %

NYSE PFGC traded up $1.66 during trading hours on Wednesday, hitting $80.07. The company had a trading volume of 343,351 shares, compared to its average volume of 1,025,170. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $80.73. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 29.80, a P/E/G ratio of 0.86 and a beta of 1.45. The firm’s 50 day moving average is $73.33 and its 200 day moving average is $70.41.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.08. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Sell-side analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Performance Food Group news, insider Scott E. Mcpherson sold 25,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares in the company, valued at approximately $11,185,774.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Performance Food Group

A number of large investors have recently modified their holdings of the company. Atria Investments Inc grew its position in Performance Food Group by 79.3% in the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after purchasing an additional 12,919 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Performance Food Group during the second quarter worth approximately $6,843,000. BNP Paribas bought a new position in Performance Food Group in the 1st quarter worth approximately $1,251,000. Capstone Investment Advisors LLC acquired a new stake in Performance Food Group in the 1st quarter valued at approximately $1,030,000. Finally, Magnetar Financial LLC acquired a new stake in Performance Food Group in the 1st quarter valued at approximately $1,913,000. Institutional investors and hedge funds 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.