BMO Capital Markets set a $30.00 target price on Performance Food Group Co (NYSE:PFGC) in a research note released on Tuesday, June 27th. The brokerage currently has a buy rating on the restaurant operator’s stock.
PFGC has been the subject of several other research reports. Zacks Investment Research raised Performance Food Group from a sell rating to a hold rating in a report on Wednesday, March 22nd. Guggenheim reaffirmed a buy rating and set a $26.80 target price on shares of Performance Food Group in a report on Tuesday, June 27th. Loop Capital began coverage on Performance Food Group in a report on Monday, May 15th. They set a buy rating and a $35.00 target price for the company. Barclays PLC reaffirmed a hold rating and set a $28.00 target price on shares of Performance Food Group in a report on Friday, May 12th. Finally, Goldman Sachs Group, Inc. (The) raised Performance Food Group from a buy rating to a conviction-buy rating in a report on Thursday, March 16th. Six 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 a consensus target price of $28.31.
Shares of Performance Food Group (NYSE:PFGC) remained flat at $28.55 during trading on Tuesday. 338,141 shares of the stock were exchanged. The company’s 50 day moving average price is $27.70 and its 200-day moving average price is $25.09. Performance Food Group has a 12 month low of $19.95 and a 12 month high of $29.12. The firm has a market cap of $2.96 billion, a PE ratio of 34.27 and a beta of -0.34.
Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 10th. The restaurant operator reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Performance Food Group had a return on equity of 9.62% and a net margin of 0.49%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. On average, equities research analysts expect that Performance Food Group will post $1.26 earnings per share for the current year.
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In related news, major shareholder Holdings L.P. Blackstone III sold 13,700,465 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $27.41, for a total value of $375,529,745.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider George L. Holm sold 102,200 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $28.23, for a total value of $2,885,106.00. Following the completion of the sale, the insider now directly owns 2,040,936 shares in the company, valued at $57,615,623.28. The disclosure for this sale can be found here. Insiders sold a total of 13,810,265 shares of company stock valued at $378,625,068 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in Performance Food Group by 13.2% in the first quarter. Bank of Montreal Can now owns 491,389 shares of the restaurant operator’s stock valued at $11,695,000 after buying an additional 57,199 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Performance Food Group during the first quarter valued at $26,081,000. Highbridge Capital Management LLC boosted its position in Performance Food Group by 297.5% in the fourth quarter. Highbridge Capital Management LLC now owns 154,670 shares of the restaurant operator’s stock valued at $3,712,000 after buying an additional 115,760 shares in the last quarter. Teachers Advisors LLC boosted its position in Performance Food Group by 31.7% in the fourth quarter. Teachers Advisors LLC now owns 80,236 shares of the restaurant operator’s stock valued at $1,926,000 after buying an additional 19,313 shares in the last quarter. Finally, Norges Bank purchased a new position in Performance Food Group during the fourth quarter valued at $8,880,000. 81.49% of the stock is currently 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. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.
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