Analysts at BMO Capital Markets initiated coverage on shares of Performance Food Group Co. (NYSE:PFGC) in a research note issued to investors on Thursday. The brokerage set an “outperform” rating and a $28.00 price target on the stock. BMO Capital Markets’ target price would suggest a potential upside of 13.77% from the stock’s previous close.
Several other research analysts have also issued reports on the company. Barclays PLC assumed coverage on Performance Food Group in a research report on Friday, September 23rd. They issued an “overweight” rating and a $28.00 price target on the stock. Zacks Investment Research upgraded Performance Food Group from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Thursday, August 18th. Pivotal Research dropped their price objective on Performance Food Group from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, August 18th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Performance Food Group in a research note on Thursday, August 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Performance Food Group presently has a consensus rating of “Buy” and a consensus price target of $27.00.
Shares of Performance Food Group (NYSE:PFGC) opened at 24.61 on Thursday. The company has a market cap of $2.54 billion and a P/E ratio of 35.16. The stock’s 50 day moving average price is $24.85 and its 200 day moving average price is $25.58. Performance Food Group has a 1-year low of $20.00 and a 1-year high of $28.13.
Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Performance Food Group had a return on equity of 13.78% and a net margin of 0.42%. The company earned $4.37 million during the quarter, compared to the consensus estimate of $398 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Performance Food Group will post $1.27 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Performance Food Group by 18.1% in the first quarter. JPMorgan Chase & Co. now owns 1,485,644 shares of the company’s stock valued at $34,690,000 after buying an additional 227,729 shares in the last quarter. Spark Investment Management LLC purchased a new stake in Performance Food Group during the first quarter valued at about $868,000. Goldman Sachs Group Inc. increased its stake in Performance Food Group by 452.1% in the first quarter. Goldman Sachs Group Inc. now owns 56,602 shares of the company’s stock valued at $1,322,000 after buying an additional 46,349 shares in the last quarter. LPL Financial LLC purchased a new stake in Performance Food Group during the first quarter valued at about $899,000. Finally, Acadian Asset Management LLC increased its stake in Performance Food Group by 3,762.3% in the second quarter. Acadian Asset Management LLC now owns 19,041 shares of the company’s stock valued at $512,000 after buying an additional 18,548 shares in the last quarter. 77.32% of the stock is currently owned by hedge funds and other institutional investors.
About Performance Food Group
Performance Food Group Company is a foodservice distribution company. The Company markets and distributes approximately 150,000 food and food-related products from 67 distribution centers to around 150,000 customer locations across the United States. The Company operates through three business segments: Performance Foodservice, PFG Customized, and Vistar.
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