Guggenheim Forecasts Strong Price Appreciation for Performance Food Group (NYSE:PFGC) Stock

Performance Food Group (NYSE:PFGC) had its target price upped by investment analysts at Guggenheim from $90.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the food distribution company’s stock. Guggenheim’s price target would suggest a potential upside of 9.33% from the company’s current price.

Several other equities analysts have also recently weighed in on PFGC. Jefferies Financial Group lifted their target price on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Barclays increased their price objective on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial boosted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and an average price target of $93.20.

Performance Food Group Trading Down 0.8 %

Performance Food Group stock traded down $0.73 during mid-day trading on Thursday, hitting $86.89. The stock had a trading volume of 543,485 shares, compared to its average volume of 1,023,423. Performance Food Group has a 12 month low of $59.35 and a 12 month high of $89.00. The stock has a market capitalization of $13.54 billion, a PE ratio of 31.14, a P/E/G ratio of 0.81 and a beta of 1.44. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a 50-day simple moving average of $78.39 and a two-hundred day simple moving average of $71.94.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. As a group, sell-side analysts forecast that Performance Food Group will post 4.87 EPS for the current year.

Insider Buying and Selling

In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the transaction, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock worth $7,426,075 in the last ninety days. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its stake in Performance Food Group by 47.6% in the third quarter. Mutual of America Capital Management LLC now owns 131,478 shares of the food distribution company’s stock valued at $10,304,000 after acquiring an additional 42,383 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Performance Food Group by 11.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 560,816 shares of the food distribution company’s stock worth $43,952,000 after buying an additional 55,445 shares during the last quarter. Natixis Advisors LLC increased its position in Performance Food Group by 14.2% in the third quarter. Natixis Advisors LLC now owns 221,544 shares of the food distribution company’s stock worth $17,363,000 after buying an additional 27,586 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of 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 valued at $354,000 after buying an additional 139 shares during the last quarter. Finally, Curi RMB Capital LLC bought a new position in shares of Performance Food Group during the 3rd quarter worth $375,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

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.