Performance Food Group (NYSE:PFGC) Given New $130.00 Price Target at UBS Group

Performance Food Group (NYSE:PFGC) had its price target cut by equities research analysts at UBS Group from $132.00 to $130.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the food distribution company’s stock. UBS Group’s price target suggests a potential upside of 21.80% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley raised their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Guggenheim upped their target price on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Wells Fargo & Company increased their target price on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research note on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.

Performance Food Group Trading Up 2.2%

Shares of NYSE:PFGC traded up $2.25 during trading on Friday, reaching $106.73. The stock had a trading volume of 849,246 shares, compared to its average volume of 1,978,688. The business has a fifty day moving average price of $109.59 and a 200-day moving average price of $97.90. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The stock has a market cap of $16.77 billion, a P/E ratio of 46.61, a PEG ratio of 1.35 and a beta of 0.91. Performance Food Group has a fifty-two week low of $80.82 and a fifty-two week high of $117.47.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.35% and a net margin of 0.53%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. As a group, analysts anticipate that Performance Food Group will post 5.71 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider A Brent King sold 6,111 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erika T. Davis sold 2,595 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider owned 40,446 shares of the company’s stock, valued at $4,449,060. This represents a 6.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 27,187 shares of company stock worth $2,743,695. 4.50% of the stock is owned by insiders.

Institutional Trading of Performance Food Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Cedar Mountain Advisors LLC purchased a new stake in Performance Food Group during the first quarter worth approximately $28,000. Asset Planning Inc acquired a new position in shares of Performance Food Group during the 1st quarter valued at $35,000. Torren Management LLC purchased a new stake in Performance Food Group during the 4th quarter worth $41,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Performance Food Group in the 2nd quarter valued at $51,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Performance Food Group in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.