Performance Food Group Company (PFGC) Downgraded by BidaskClub
Performance Food Group Company (NYSE:PFGC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other research firms also recently issued reports on PFGC. Wells Fargo & Company reissued a “buy” rating on shares of Performance Food Group in a research report on Tuesday, August 8th. Royal Bank Of Canada set a $27.00 price target on Performance Food Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. BMO Capital Markets set a $30.00 price target on Performance Food Group and gave the company a “buy” rating in a research report on Friday, August 4th. Guggenheim reiterated a “buy” rating and set a $33.00 price target (up previously from $31.00) on shares of Performance Food Group in a research note on Wednesday, September 6th. Finally, Zacks Investment Research upgraded Performance Food Group from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, June 14th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $29.20.
Performance Food Group (NYSE PFGC) traded up 1.07% during midday trading on Tuesday, hitting $28.35. The stock had a trading volume of 802,615 shares. The company has a 50-day moving average price of $27.96 and a 200-day moving average price of $26.91. Performance Food Group has a 52 week low of $19.95 and a 52 week high of $29.90. The stock has a market cap of $2.95 billion, a P/E ratio of 30.48 and a beta of -0.27.
Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 16th. The restaurant operator reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that Performance Food Group will post $1.43 EPS for the current year.
In other news, insider James D. Hope purchased 3,575 shares of the stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $26.99 per share, with a total value of $96,489.25. Following the completion of the acquisition, the insider now owns 65,480 shares in the company, valued at approximately $1,767,305.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $28.25, for a total transaction of $141,250,000.00. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Insight Capital Research & Management Inc. purchased a new position in Performance Food Group during the second quarter valued at approximately $1,004,000. Chicago Equity Partners LLC bought a new position in Performance Food Group in the 2nd quarter valued at $1,328,000. UBS Asset Management Americas Inc. boosted its holdings in Performance Food Group by 326.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 37,487 shares of the restaurant operator’s stock valued at $892,000 after purchasing an additional 28,700 shares during the period. Keybank National Association OH bought a new position in Performance Food Group in the 2nd quarter valued at $1,220,000. Finally, Engineers Gate Manager LP bought a new position in Performance Food Group in the 2nd quarter valued at $2,648,000. Institutional investors own 78.69% of the company’s stock.
About Performance Food Group
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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