Performance Food Group Company (PFGC) Receives Average Rating of “Buy” from Analysts
Shares of Performance Food Group Company (NYSE:PFGC) have been assigned a consensus rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $29.30.
Several equities analysts have weighed in on the stock. BidaskClub lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Wells Fargo & Company upgraded shares of Performance Food Group from a “market perform” rating to an “outperform” rating in a report on Friday. Morgan Stanley upped their price objective on shares of Performance Food Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 13th. TheStreet upgraded shares of Performance Food Group from a “c” rating to a “b-” rating in a report on Monday, October 2nd. Finally, Guggenheim restated a “buy” rating and issued a $33.00 price objective (up from $31.00) on shares of Performance Food Group in a report on Wednesday, September 6th.
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In other news, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $28.25, for a total value of $141,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James D. Hope bought 3,575 shares of the stock in a transaction dated Friday, August 25th. The stock was bought at an average price of $26.99 per share, with a total value of $96,489.25. Following the acquisition, the insider now owns 65,480 shares in the company, valued at approximately $1,767,305.20. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in Performance Food Group by 37.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,603 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 1,247 shares during the period. SG Americas Securities LLC acquired a new stake in Performance Food Group during the 2nd quarter worth $118,000. Pacad Investment Ltd. boosted its stake in Performance Food Group by 880.0% during the 2nd quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 4,400 shares during the period. Strs Ohio boosted its stake in Performance Food Group by 4,700.0% during the 3rd quarter. Strs Ohio now owns 4,800 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 4,700 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in Performance Food Group during the 2nd quarter worth $141,000. Institutional investors and hedge funds own 79.44% of the company’s stock.
Performance Food Group (PFGC) traded down $0.43 during trading hours on Monday, reaching $28.38. 126,014 shares of the company’s stock traded hands, compared to its average volume of 496,538. The company has a quick ratio of 0.77, a current ratio of 1.51 and a debt-to-equity ratio of 1.39. The firm has a market cap of $2,997.15, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 2.00 and a beta of -0.28. Performance Food Group has a 12 month low of $19.95 and a 12 month high of $29.90.
Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 16th. The restaurant operator reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.46 billion. Performance Food Group had a net margin of 0.57% and a return on equity of 14.73%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. sell-side analysts anticipate that Performance Food Group will post 1.44 EPS for the current year.
About Performance Food Group
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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