Zacks Investment Research cut shares of Performance Food Group (NYSE:PFGC) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Performance Food Group Company markets and distributes food and food-related products. Its operating segment consists of Foodservice, Vistar, and PFG Customized. Foodservice segment offers appetizers and soups, beverages, canned and dry foods, cheese, dairy products and eggs, desserts and breads, dressing sauces and oils, non-foods, pizzas and pastas, prepared foods, produce and vegetables and seafood products. Vistar segment offers candies, gum and mints, snacks, cold beverages, frozen products, coffees, ice creams, frozen and refrigerated entrees, disposables, cleaners and more. PFG Customized segment offers seafood, meats, produce, dairy products and smallwares. The company serves independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions. Performance Food Group Company is headquartered in Richmond, Virginia. “

Several other brokerages have also recently weighed in on PFGC. Loop Capital set a $48.00 price objective on Performance Food Group and gave the stock a buy rating in a report on Friday, July 5th. BMO Capital Markets boosted their price objective on Cogeco Communications from C$95.00 to C$100.00 in a report on Friday, July 12th. Finally, Bank of America reaffirmed a buy rating and issued a C$10.00 price target on shares of Hexo in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $41.20.

Shares of NYSE:PFGC opened at $42.68 on Tuesday. The company has a market cap of $4.50 billion, a PE ratio of 27.71, a P/E/G ratio of 1.84 and a beta of 0.66. Performance Food Group has a 1-year low of $28.05 and a 1-year high of $43.78. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.45 and a quick ratio of 0.75. The stock’s 50-day moving average price is $40.66.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.67 billion. Performance Food Group had a return on equity of 14.91% and a net margin of 0.91%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Sell-side analysts expect that Performance Food Group will post 1.78 EPS for the current fiscal year.

In related news, insider Patrick T. Hagerty sold 7,450 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.85, for a total value of $304,332.50. Following the completion of the transaction, the insider now directly owns 169,006 shares in the company, valued at approximately $6,903,895.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $38.99, for a total value of $272,930.00. Following the completion of the transaction, the insider now owns 155,006 shares of the company’s stock, valued at $6,043,683.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,450 shares of company stock valued at $858,803. 3.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in shares of Performance Food Group by 75.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the food distribution company’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Advisor Group Inc. grew its position in shares of Performance Food Group by 19.8% in the 4th quarter. Advisor Group Inc. now owns 1,834 shares of the food distribution company’s stock valued at $59,000 after purchasing an additional 303 shares during the period. NEXT Financial Group Inc grew its position in shares of Performance Food Group by 12.9% in the 2nd quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after purchasing an additional 242 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Performance Food Group by 55.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,956 shares of the food distribution company’s stock valued at $128,000 after purchasing an additional 1,415 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Performance Food Group in the 1st quarter valued at approximately $211,000. Institutional investors and hedge funds own 95.72% 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, including 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 beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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