Performance Food Group Co. (PFGC) Downgraded by Zacks Investment Research
Performance Food Group Co. (NYSE:PFGC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
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 research firms have also weighed in on PFGC. Pivotal Research cut their price objective on 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. Wells Fargo & Co. reissued a “hold” rating on shares of Performance Food Group in a report on Thursday, August 18th. BMO Capital Markets initiated coverage on Performance Food Group in a report on Thursday, October 13th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Barclays PLC initiated coverage on Performance Food Group in a report on Friday, September 23rd. They issued an “overweight” rating and a $28.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.00.
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Shares of Performance Food Group (NYSE:PFGC) opened at 24.79 on Wednesday. Performance Food Group has a 12 month low of $20.00 and a 12 month high of $28.13. The firm has a market cap of $2.56 billion and a PE ratio of 35.41. The firm’s 50-day moving average price is $24.73 and its 200-day moving average price is $25.62.
Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.37 million for the quarter, compared to analysts’ expectations of $398 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Analysts expect that Performance Food Group will post $1.27 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in PFGC. Strs Ohio increased its position in 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 in the last quarter. Barclays PLC increased its position in Performance Food Group by 9.5% in the second quarter. Barclays PLC now owns 8,760 shares of the company’s stock valued at $235,000 after buying an additional 760 shares in the last quarter. GSA Capital Partners LLP increased its position in Performance Food Group by 14.7% in the second quarter. GSA Capital Partners LLP now owns 24,323 shares of the company’s stock valued at $655,000 after buying an additional 3,123 shares in the last quarter. Legal & General Group Plc increased its position in 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 in the last quarter. Finally, Citigroup Inc. increased its position in Performance Food Group by 26.6% in the second quarter. Citigroup Inc. now owns 19,584 shares of the company’s stock valued at $527,000 after buying an additional 4,109 shares in the last quarter. Institutional investors own 77.32% of the company’s stock.
Performance Food Group Company Profile
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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