Performance Food Group Company (PFGC) Downgraded to Hold at BidaskClub
Performance Food Group Company (NYSE:PFGC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, June 14th. BMO Capital Markets set a $30.00 price target on shares of Performance Food Group and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reissued a “hold” rating on shares of Performance Food Group in a report on Thursday, August 17th. Royal Bank Of Canada set a $27.00 price target on shares of Performance Food Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. Finally, Morgan Stanley raised their price objective on shares of Performance Food Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 13th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Performance Food Group has a consensus rating of “Hold” and a consensus price target of $29.20.
Shares of Performance Food Group (PFGC) traded up 1.07% on Tuesday, hitting $28.35. 802,615 shares of the stock traded hands. The firm has a market cap of $2.95 billion, a P/E ratio of 30.48 and a beta of -0.27. Performance Food Group has a 52 week low of $19.95 and a 52 week high of $29.90. The stock has a 50-day moving average price of $27.96 and a 200 day moving average price of $26.91.
Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, August 16th. The restaurant operator reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts predict that Performance Food Group will post $1.43 EPS for the current fiscal year.
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In other Performance Food Group news, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $28.25, for a total transaction of $141,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James D. Hope purchased 3,575 shares of the business’s stock in a transaction on Friday, August 25th. The shares were acquired at an average price of $26.99 per share, with a total value of $96,489.25. Following the completion of the transaction, the insider now owns 65,480 shares of the company’s stock, valued at $1,767,305.20. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Performance Food Group by 20.3% in the second quarter. FMR LLC now owns 14,747,833 shares of the restaurant operator’s stock worth $404,090,000 after buying an additional 2,492,402 shares during the period. Vanguard Group Inc. lifted its stake in shares of Performance Food Group by 16.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,738,910 shares of the restaurant operator’s stock valued at $184,646,000 after acquiring an additional 957,920 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Performance Food Group by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,108,605 shares of the restaurant operator’s stock valued at $167,376,000 after acquiring an additional 714,071 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Performance Food Group by 62.4% in the 2nd quarter. BlackRock Inc. now owns 5,336,665 shares of the restaurant operator’s stock valued at $146,224,000 after acquiring an additional 2,049,633 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Performance Food Group by 97.2% in the 2nd quarter. Victory Capital Management Inc. now owns 3,526,649 shares of the restaurant operator’s stock valued at $96,631,000 after acquiring an additional 1,738,128 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Performance Food Group Company Profile
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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