BidaskClub Upgrades Performance Food Group Company (PFGC) to “Buy”
Performance Food Group Company (NYSE:PFGC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
Several other brokerages have also recently commented on PFGC. Guggenheim reaffirmed a “buy” rating and issued a $26.80 target price on shares of Performance Food Group in a research report on Tuesday, June 27th. Wells Fargo & Co reissued a “buy” rating on shares of Performance Food Group in a research report on Tuesday, August 8th. Zacks Investment Research raised Performance Food Group from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, June 14th. BMO Capital Markets lifted their price objective on Performance Food Group from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Finally, Royal Bank Of Canada set a $27.00 price objective on Performance Food Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.20.
Performance Food Group (NYSE:PFGC) traded down 1.39% during mid-day trading on Monday, reaching $28.40. The company’s stock had a trading volume of 585,297 shares. The firm has a market capitalization of $2.96 billion, a P/E ratio of 30.54 and a beta of -0.28. Performance Food Group has a 52 week low of $19.95 and a 52 week high of $29.90. The firm’s 50 day moving average price is $27.74 and its 200 day moving average price is $26.52.
Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 16th. The restaurant operator reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.46 billion. Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, analysts anticipate that Performance Food Group will post $1.43 EPS for the current fiscal year.
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In other news, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of Performance Food Group stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $28.25, for a total value of $141,250,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James D. Hope acquired 3,575 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of $26.99 per share, for a total transaction of $96,489.25. Following the completion of the purchase, the insider now directly owns 65,480 shares of the company’s stock, valued at approximately $1,767,305.20. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Performance Food Group by 37.2% during the first quarter. Public Employees Retirement System of Ohio now owns 4,603 shares of the restaurant operator’s stock valued at $110,000 after acquiring an additional 1,247 shares during the period. SG Americas Securities LLC bought a new position in Performance Food Group during the second quarter valued at about $118,000. Pacad Investment Ltd. increased its stake in Performance Food Group by 880.0% during the second quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock valued at $134,000 after acquiring an additional 4,400 shares during the period. Tower Research Capital LLC TRC bought a new position in Performance Food Group during the second quarter valued at about $141,000. Finally, Great West Life Assurance Co. Can increased its stake in Performance Food Group by 187.0% during the first quarter. Great West Life Assurance Co. Can now owns 6,600 shares of the restaurant operator’s stock valued at $156,000 after acquiring an additional 4,300 shares during the period. Institutional investors and hedge funds own 78.69% 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. 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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