Performance Food Group Company (PFGC) Receives Average Recommendation of “Hold” from Brokerages
Performance Food Group Company (NYSE:PFGC) has received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $29.30.
Several analysts have recently commented on the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Tuesday, August 8th. BidaskClub cut Performance Food Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research raised Performance Food Group from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, October 5th. Royal Bank Of Canada set a $27.00 target price on Performance Food Group and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, TheStreet raised Performance Food Group from a “c” rating to a “b-” rating in a research report on Monday, October 2nd.
Performance Food Group (NYSE PFGC) traded up 0.626% during mid-day trading on Thursday, hitting $28.125. The company had a trading volume of 297,001 shares. The stock’s 50 day moving average price is $28.22 and its 200 day moving average price is $27.10. The firm has a market cap of $2.93 billion, a P/E ratio of 30.242 and a beta of -0.27. Performance Food Group has a 52-week low of $19.95 and a 52-week high of $29.90.
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, equities research analysts predict that Performance Food Group will post $1.43 EPS for the current fiscal year.
In related news, insider James D. Hope bought 3,575 shares of the business’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $26.99 per share, for a total transaction of $96,489.25. Following the completion of the acquisition, the insider now directly owns 65,480 shares in the company, valued at $1,767,305.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $28.25, for a total value of $141,250,000.00. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Equity Partners LLC bought a new position in Performance Food Group during the second quarter valued at about $1,328,000. Insight Capital Research & Management Inc. bought a new position in Performance Food Group during the second quarter valued at about $1,004,000. Keybank National Association OH bought a new position in Performance Food Group during the second quarter valued at about $1,220,000. UBS Asset Management Americas Inc. raised its holdings in Performance Food Group by 326.6% during the first quarter. UBS Asset Management Americas Inc. now owns 37,487 shares of the restaurant operator’s stock valued at $892,000 after buying an additional 28,700 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Performance Food Group during the second quarter valued at about $2,648,000. Institutional investors own 78.70% 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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