Performance Food Group (NYSE:PFGC) Given New $48.00 Price Target at BMO Capital Markets

Share on StockTwits

Performance Food Group (NYSE:PFGC) had its target price raised by BMO Capital Markets to $48.00 in a research note released on Friday, The Fly reports. They currently have a positive rating on the food distribution company’s stock.

Other analysts have also issued research reports about the company. Bank of America restated a buy rating and set a C$10.00 target price on shares of Hexo in a report on Wednesday, April 17th. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Finally, Loop Capital set a $48.00 target price on Performance Food Group and gave the stock a buy rating in a report on Friday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $41.64.

Shares of NYSE PFGC opened at $43.40 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 1.86 and a beta of 0.66. The company has a 50 day moving average price of $40.49. Performance Food Group has a 52-week low of $28.05 and a 52-week high of $43.78.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, May 8th. The food distribution company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Performance Food Group had a return on equity of 14.91% and a net margin of 0.91%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Equities research analysts anticipate that Performance Food Group will post 1.78 earnings per share for the current year.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $40.22, for a total transaction of $281,540.00. Following the transaction, the insider now directly owns 148,506 shares of the company’s stock, valued at $5,972,911.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patrick T. Hagerty sold 7,450 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $40.85, for a total value of $304,332.50. Following the transaction, the insider now directly owns 169,006 shares in the company, valued at $6,903,895.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,450 shares of company stock worth $858,803. Insiders own 3.80% of the company’s stock.

Several hedge funds have recently modified their holdings of PFGC. Hennessy Advisors Inc. purchased a new stake in shares of Performance Food Group during the 2nd quarter worth about $2,934,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of Performance Food Group by 26.9% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 16,708 shares of the food distribution company’s stock worth $669,000 after acquiring an additional 3,543 shares in the last quarter. Scout Investments Inc. boosted its stake in shares of Performance Food Group by 66.0% during the 2nd quarter. Scout Investments Inc. now owns 253,808 shares of the food distribution company’s stock worth $10,160,000 after acquiring an additional 100,917 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of Performance Food Group by 50.8% during the 2nd quarter. WINTON GROUP Ltd now owns 12,176 shares of the food distribution company’s stock worth $487,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Performance Food Group during the 1st quarter worth about $22,413,000. 95.72% of the stock is currently owned by institutional investors and hedge funds.

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, including 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 beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

Further Reading: Google Finance Portfolio

The Fly

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.