Performance Food Group (PFGC) Price Target Cut to $38.00

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Performance Food Group (NYSE:PFGC) had its price target trimmed by BMO Capital Markets from $40.00 to $38.00 in a research note published on Thursday. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other equities analysts also recently commented on the stock. Loop Capital set a $43.00 price objective on shares of Performance Food Group and gave the stock a buy rating in a research report on Thursday, May 10th. Zacks Investment Research downgraded shares of Performance Food Group from a hold rating to a sell rating in a research report on Saturday, May 12th. Guggenheim restated a buy rating and set a $43.00 price objective on shares of Performance Food Group in a research report on Friday, July 20th. Royal Bank of Canada upped their price target on shares of Performance Food Group from $32.00 to $33.00 and gave the stock a sector perform rating in a research note on Friday, August 10th. Finally, Pivotal Research reaffirmed a hold rating and set a $31.00 price target on shares of Performance Food Group in a research note on Thursday, May 10th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $38.40.

Shares of Performance Food Group stock opened at $33.65 on Thursday. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 0.95 and a beta of 0.28. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 1.17. Performance Food Group has a one year low of $26.35 and a one year high of $39.45.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 15th. The restaurant operator reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.07). The firm had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Performance Food Group had a return on equity of 15.76% and a net margin of 1.00%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. equities research analysts forecast that Performance Food Group will post 1.6 earnings per share for the current year.

In other news, insider George L. Holm sold 56,176 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $36.43, for a total transaction of $2,046,491.68. Following the transaction, the insider now directly owns 166,937 shares of the company’s stock, valued at approximately $6,081,514.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carol A. O’connell sold 6,939 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $36.77, for a total transaction of $255,147.03. Following the completion of the sale, the insider now directly owns 50,474 shares in the company, valued at $1,855,928.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,515 shares of company stock worth $2,702,521. Corporate insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank grew its stake in Performance Food Group by 2.3% in the 1st quarter. Swiss National Bank now owns 181,400 shares of the restaurant operator’s stock valued at $5,415,000 after acquiring an additional 4,000 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Performance Food Group by 9.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 74,817 shares of the restaurant operator’s stock valued at $2,233,000 after acquiring an additional 6,612 shares during the last quarter. Hsbc Holdings PLC grew its stake in Performance Food Group by 111.4% in the 1st quarter. Hsbc Holdings PLC now owns 240,225 shares of the restaurant operator’s stock valued at $7,171,000 after acquiring an additional 126,615 shares during the last quarter. Royal Bank of Canada grew its stake in Performance Food Group by 3.2% in the 1st quarter. Royal Bank of Canada now owns 429,486 shares of the restaurant operator’s stock valued at $12,820,000 after acquiring an additional 13,478 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Performance Food Group by 9.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 713,858 shares of the restaurant operator’s stock valued at $21,309,000 after acquiring an additional 63,582 shares during the last quarter. 94.74% of the stock is currently owned by hedge funds and other 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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, such as meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as seafood products, shortenings and oils, baked goods, and salad dressings.

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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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