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

Performance Food Group (NYSE:PFGC) had its price target hoisted by Morgan Stanley from $94.00 to $96.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the food distribution company’s stock.

A number of other equities analysts also recently commented on PFGC. StockNews.com downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler raised their price target on shares of Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group upped their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets upped their price target on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.67.

Performance Food Group Stock Up 1.6 %

NYSE PFGC opened at $89.12 on Tuesday. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. The stock has a market cap of $13.88 billion, a PE ratio of 32.88, a PEG ratio of 0.94 and a beta of 1.43. The firm has a 50-day simple moving average of $86.38 and a 200 day simple moving average of $78.43.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. On average, research analysts forecast that Performance Food Group will post 4.74 EPS for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the transaction, the insider now owns 172,372 shares of the company’s stock, valued at approximately $14,582,671.20. This represents a 10.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC acquired a new stake in shares of Performance Food Group during the 4th quarter worth approximately $814,000. UMB Bank n.a. grew its holdings in Performance Food Group by 69.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock worth $65,000 after acquiring an additional 313 shares during the period. Artemis Investment Management LLP raised its position in shares of Performance Food Group by 121.5% during the 4th quarter. Artemis Investment Management LLP now owns 290,478 shares of the food distribution company’s stock valued at $24,560,000 after acquiring an additional 159,325 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Performance Food Group by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 10,537 shares of the food distribution company’s stock valued at $891,000 after purchasing an additional 1,763 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock valued at $54,665,000 after purchasing an additional 371,078 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

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.