Piper Sandler Raises Performance Food Group (NYSE:PFGC) Price Target to $92.00

Performance Food Group (NYSE:PFGC) had its target price increased by analysts at Piper Sandler from $79.00 to $92.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the food distribution company’s stock. Piper Sandler’s price objective indicates a potential upside of 11.04% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley restated an “equal weight” rating and set a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. BMO Capital Markets upped their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted their price target 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. Guggenheim increased their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Truist Financial lifted their target price on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $82.85 on Monday. The business has a 50-day simple moving average of $80.30 and a 200 day simple moving average of $72.90. Performance Food Group has a one year low of $61.40 and a one year high of $89.00. 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 firm has a market capitalization of $12.91 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 0.90 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same period last year, the business posted $1.15 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, research analysts anticipate that Performance Food Group will post 4.71 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 14.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly owns 162,987 shares in the company, valued at $12,152,310.72. This trade represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Performance Food Group

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in Performance Food Group by 26.3% during the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after purchasing an additional 2,773,547 shares during the period. Primecap Management Co. CA grew its stake in Performance Food Group by 223.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after buying an additional 1,122,676 shares in the last quarter. Holocene Advisors LP grew its stake in Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after buying an additional 724,094 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after acquiring an additional 372,218 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

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.