Performance Food Group Company (PFGC) Rating Increased to Buy at BidaskClub
Performance Food Group Company (NYSE:PFGC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.
Several other equities research analysts have also recently commented on PFGC. Zacks Investment Research cut Performance Food Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets set a $30.00 price objective on Performance Food Group and gave the company a “buy” rating in a research report on Friday, August 4th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Tuesday, August 8th. Royal Bank Of Canada set a $27.00 price objective on Performance Food Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, Guggenheim reaffirmed a “buy” rating and set a $33.00 price objective (up from $31.00) on shares of Performance Food Group in a research report on Wednesday, September 6th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Performance Food Group has a consensus rating of “Buy” and a consensus price target of $29.30.
Shares of Performance Food Group (PFGC) opened at $28.80 on Friday. Performance Food Group has a 12 month low of $19.95 and a 12 month high of $29.90. The company has a market capitalization of $2,997.16, a price-to-earnings ratio of 23.23, a PEG ratio of 2.00 and a beta of -0.28. The company has a quick ratio of 0.77, a current ratio of 1.51 and a debt-to-equity ratio of 1.39.
Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, August 16th. The restaurant operator reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. equities research analysts anticipate that Performance Food Group will post 1.44 EPS for the current year.
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In other news, insider James D. Hope bought 3,575 shares of the company’s stock in a transaction on Friday, August 25th. The shares were acquired at an average cost 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 approximately $1,767,305.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $28.25, for a total value of $141,250,000.00. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Keybank National Association OH boosted its position in Performance Food Group by 5.7% in the third quarter. Keybank National Association OH now owns 47,050 shares of the restaurant operator’s stock worth $1,329,000 after purchasing an additional 2,525 shares during the last quarter. Prudential Financial Inc. boosted its position in Performance Food Group by 1,555.5% in the third quarter. Prudential Financial Inc. now owns 227,630 shares of the restaurant operator’s stock worth $6,430,000 after purchasing an additional 213,880 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Performance Food Group in the third quarter worth about $492,000. Palisade Capital Management LLC NJ boosted its position in Performance Food Group by 1.9% in the third quarter. Palisade Capital Management LLC NJ now owns 445,266 shares of the restaurant operator’s stock worth $12,579,000 after purchasing an additional 8,262 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Performance Food Group by 1.1% in the third quarter. Victory Capital Management Inc. now owns 3,563,912 shares of the restaurant operator’s stock worth $100,681,000 after purchasing an additional 37,263 shares during the last quarter. 79.50% 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. 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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