Jefferies Financial Group Raises Performance Food Group (NYSE:PFGC) Price Target to $95.00

Performance Food Group (NYSE:PFGC) had its target price increased by stock analysts at Jefferies Financial Group from $90.00 to $95.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the food distribution company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 20.74% from the company’s previous close.

Several other analysts also recently commented on PFGC. Morgan Stanley reduced their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets increased their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Performance Food Group Stock Up 1.5 %

Shares of NYSE:PFGC opened at $78.68 on Wednesday. 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 firm has a 50 day simple moving average of $71.13 and a 200-day simple moving average of $70.30. The company has a market capitalization of $12.24 billion, a PE ratio of 29.36, a P/E/G ratio of 0.85 and a beta of 1.44. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.99.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 earnings per share. On average, equities analysts predict that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Activity

In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares in the company, valued at approximately $11,185,774.32. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Performance Food Group in the 1st quarter valued at about $29,000. Innealta Capital LLC purchased a new stake in shares of Performance Food Group in the second quarter valued at about $30,000. Mather Group LLC. acquired a new stake in shares of Performance Food Group in the first quarter valued at approximately $44,000. GAMMA Investing LLC increased its stake in shares of Performance Food Group by 65.2% during the 2nd quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 349 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Performance Food Group during the 2nd quarter worth approximately $105,000. 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.