Performance Food Group (NYSE:PFGC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, December 19th. The firm currently has a $35.00 target price on the restaurant operator’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 6.06% from the stock’s current price.
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. “
A number of other analysts have also weighed in on the company. Wells Fargo & Co raised Performance Food Group from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. BidaskClub raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Morgan Stanley increased their price objective on Performance Food Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 13th. TheStreet lowered Performance Food Group from a “b-” rating to a “c” rating in a research note on Monday, November 27th. Finally, Loop Capital set a $35.00 price objective on Performance Food Group and gave the company a “buy” rating in a research note on Friday, December 15th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.25.
Shares of Performance Food Group (NYSE:PFGC) remained flat at $$33.00 on Tuesday. The company had a trading volume of 309,904 shares, compared to its average volume of 559,811. The firm has a market cap of $3,450.00 and a PE ratio of 32.04. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.55 and a quick ratio of 0.80. Performance Food Group has a 1 year low of $21.70 and a 1 year high of $33.80.
Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 8th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.37 billion. Performance Food Group had a return on equity of 15.02% and a net margin of 0.62%. Performance Food Group’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. sell-side analysts predict that Performance Food Group will post 1.45 EPS for the current fiscal year.
In other Performance Food Group news, Director William F. Dawson, Jr. sold 6,272,914 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $29.68, for a total value of $186,180,087.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Howard Hoskins sold 4,450 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $27.81, for a total value of $123,754.50. Following the completion of the transaction, the insider now owns 175,993 shares of the company’s stock, valued at approximately $4,894,365.33. The disclosure for this sale can be found here. Insiders sold 11,277,364 shares of company stock valued at $326,453,842 in the last ninety days. 3.70% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of PFGC. Dimensional Fund Advisors LP bought a new position in shares of Performance Food Group during the first quarter valued at $4,341,000. Great West Life Assurance Co. Can increased its holdings in shares of Performance Food Group by 65.5% during the second quarter. Great West Life Assurance Co. Can now owns 10,920 shares of the restaurant operator’s stock valued at $299,000 after acquiring an additional 4,320 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Performance Food Group by 69.6% during the second quarter. TD Asset Management Inc. now owns 32,900 shares of the restaurant operator’s stock valued at $901,000 after acquiring an additional 13,500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Performance Food Group by 43.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 494,206 shares of the restaurant operator’s stock valued at $13,542,000 after acquiring an additional 150,321 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Performance Food Group by 117.5% during the second quarter. First Trust Advisors LP now owns 109,867 shares of the restaurant operator’s stock valued at $3,010,000 after acquiring an additional 59,356 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.
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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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