Performance Food Group (NYSE:PFGC) had its price target lowered by stock analysts at Morgan Stanley from $37.00 to $35.00 in a research report issued on Thursday. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective indicates a potential upside of 4.01% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Pivotal Research reiterated a “hold” rating and set a $31.00 price objective on shares of Performance Food Group in a research note on Thursday. BMO Capital Markets dropped their price objective on shares of Performance Food Group from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday. Loop Capital reiterated a “buy” rating and set a $42.00 price objective on shares of Performance Food Group in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of Performance Food Group from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. Finally, Guggenheim reiterated a “buy” rating and set a $43.00 price objective on shares of Performance Food Group in a research note on Friday, July 20th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Performance Food Group has a consensus rating of “Buy” and a consensus target price of $38.50.

Shares of NYSE:PFGC opened at $33.65 on Thursday. The company has a market cap of $3.81 billion, a PE ratio of 27.14, a P/E/G ratio of 0.95 and a beta of 0.28. Performance Food Group has a one year low of $26.35 and a one year high of $39.45. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.78 and a current ratio of 1.51.

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

In other Performance Food Group news, insider Patrick T. Hagerty sold 29,305 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $35.35, for a total value of $1,035,931.75. Following the completion of the sale, the insider now directly owns 167,837 shares in the company, valued at $5,933,037.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider George L. Holm sold 56,176 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 166,937 shares of the company’s stock, valued at $6,081,514.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,820 shares of company stock valued at $3,738,453. 3.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank boosted its stake in Performance Food Group by 2.3% in the first 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 in the last quarter. Hsbc Holdings PLC boosted its stake in Performance Food Group by 111.4% in the first 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 in the last quarter. Royal Bank of Canada boosted its stake in Performance Food Group by 3.2% in the first 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Performance Food Group by 9.7% in the first 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 in the last quarter. Finally, Crestwood Capital Management L.P. raised its holdings in shares of Performance Food Group by 30.0% in the first quarter. Crestwood Capital Management L.P. now owns 140,400 shares of the restaurant operator’s stock worth $4,191,000 after buying an additional 32,400 shares during the last quarter. Institutional investors own 94.74% of the company’s stock.

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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