Performance Food Group (NYSE:PFGC) Given New $102.00 Price Target at Barclays

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

A number of other brokerages also recently commented on PFGC. Wells Fargo & Company lifted their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Melius Research raised shares of Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler raised their target price on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Melius started coverage on Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price target for the company. Finally, StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.83.

Performance Food Group Stock Down 2.4 %

Shares of NYSE PFGC opened at $85.10 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The firm has a 50-day moving average price of $87.31 and a 200 day moving average price of $80.53. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. Equities research analysts anticipate that Performance Food Group will post 4.74 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the sale, the insider now owns 192,868 shares in the company, valued at $17,026,387.04. This represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Performance Food Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in Performance Food Group by 11.9% during the fourth quarter. HighTower Advisors LLC now owns 9,047 shares of the food distribution company’s stock valued at $765,000 after buying an additional 965 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in Performance Food Group during the fourth quarter valued at approximately $4,251,000. Daiwa Securities Group Inc. raised its stake in Performance Food Group by 0.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 83,178 shares of the food distribution company’s stock valued at $7,033,000 after buying an additional 566 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of Performance Food Group by 73.7% during the fourth quarter. Moran Wealth Management LLC now owns 93,667 shares of the food distribution company’s stock valued at $7,920,000 after purchasing an additional 39,744 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Performance Food Group by 17.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,192 shares of the food distribution company’s stock valued at $3,398,000 after purchasing an additional 6,085 shares during the last quarter. 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.