Barclays Issues Pessimistic Forecast for Performance Food Group (NYSE:PFGC) Stock Price

Performance Food Group (NYSE:PFGC) had its target price reduced by stock analysts at Barclays from $103.00 to $102.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the food distribution company’s stock. Barclays‘s target price would indicate a potential upside of 19.86% from the company’s previous close.

PFGC has been the subject of several other reports. Piper Sandler raised their target price on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Guggenheim boosted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Melius began coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Melius Research raised shares of Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.83.

Performance Food Group Price Performance

Shares of PFGC stock opened at $85.10 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The company’s 50-day simple moving average is $87.31 and its two-hundred day simple moving average is $80.53. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The company has a market capitalization of $13.26 billion, a P/E ratio of 31.40, a P/E/G ratio of 0.97 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. As a group, equities analysts anticipate that Performance Food Group will post 4.74 EPS for the current year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the transaction, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. The trade was a 10.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Performance Food Group

Several large investors have recently made changes to their positions in PFGC. CIBC Asset Management Inc increased its stake in Performance Food Group by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock worth $354,000 after buying an additional 139 shares during the period. Creative Planning grew its position in shares of Performance Food Group by 1.2% in the 3rd quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock valued at $916,000 after buying an additional 140 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Performance Food Group by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company’s stock valued at $329,000 after buying an additional 142 shares during the last quarter. Highland Capital Management LLC boosted its stake in Performance Food Group by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company’s stock worth $246,000 after purchasing an additional 183 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Performance Food Group by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after purchasing an additional 186 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.