Performance Food Group Co. (PFGC) Receives Average Rating of “Buy” from Analysts
Performance Food Group Co. (NYSE:PFGC) has been given a consensus rating of “Buy” by the nine analysts that are currently covering the firm. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $26.86.
PFGC has been the subject of several recent research reports. Barclays PLC initiated coverage on shares of Performance Food Group in a report on Friday, September 23rd. They set an “overweight” rating and a $28.00 target price for the company. Zacks Investment Research upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, July 6th. Pivotal Research dropped their price target on shares of Performance Food Group from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Performance Food Group in a research report on Thursday, August 18th.
Several hedge funds have recently made changes to their positions in PFGC. Smith Asset Management Group LP bought a new stake in shares of Performance Food Group during the second quarter valued at about $122,000. Teacher Retirement System of Texas bought a new stake in shares of Performance Food Group during the second quarter valued at about $136,000. Legal & General Group Plc raised its stake in shares of Performance Food Group by 122.2% in the second quarter. Legal & General Group Plc now owns 5,716 shares of the company’s stock valued at $152,000 after buying an additional 3,144 shares during the period. Strs Ohio raised its stake in shares of Performance Food Group by 9.3% in the second quarter. Strs Ohio now owns 5,900 shares of the company’s stock valued at $158,000 after buying an additional 500 shares during the period. Finally, BlackRock Group LTD bought a new stake in shares of Performance Food Group during the second quarter valued at about $218,000. Institutional investors and hedge funds own 77.32% of the company’s stock.
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Shares of Performance Food Group (NYSE:PFGC) traded up 1.29% during mid-day trading on Wednesday, hitting $25.13. 65,607 shares of the stock traded hands. Performance Food Group has a 12 month low of $20.00 and a 12 month high of $28.13. The firm has a 50 day moving average of $25.00 and a 200 day moving average of $25.58. The company has a market cap of $2.60 billion and a P/E ratio of 35.90.
Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 17th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Performance Food Group had a return on equity of 13.78% and a net margin of 0.42%. The business had revenue of $4.37 million for the quarter, compared to analysts’ expectations of $398 million. During the same period last year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts anticipate that Performance Food Group will post $1.27 EPS for the current fiscal year.
About Performance Food Group
Performance Food Group Company is a foodservice distribution company. The Company markets and distributes approximately 150,000 food and food-related products from 67 distribution centers to around 150,000 customer locations across the United States. The Company operates through three business segments: Performance Foodservice, PFG Customized, and Vistar.
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