Performance Food Group Company (NYSE:PFGC) was upgraded by stock analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a report released on Friday.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley increased their price objective on Performance Food Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, September 13th. BMO Capital Markets increased their price objective on Performance Food Group from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Zacks Investment Research downgraded Performance Food Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. TheStreet raised Performance Food Group from a “c” rating to a “b-” rating in a report on Monday, October 2nd. Finally, BidaskClub raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Performance Food Group presently has an average rating of “Buy” and an average price target of $29.30.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 16th. The restaurant operator reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.46 billion. Performance Food Group had a net margin of 0.57% and a return on equity of 14.73%. Performance Food Group’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share.

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In other Performance Food Group news, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James D. Hope acquired 3,575 shares of the business’s stock in a transaction on Friday, August 25th. The stock was acquired at an average price of $26.99 per share, with a total value of $96,489.25. Following the transaction, 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. 3.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position in Performance Food Group by 37.2% in the first quarter. Public Employees Retirement System of Ohio now owns 4,603 shares of the restaurant operator’s stock worth $110,000 after acquiring an additional 1,247 shares in the last quarter. SG Americas Securities LLC purchased a new position in Performance Food Group in the second quarter worth $118,000. Pacad Investment Ltd. raised its position in Performance Food Group by 880.0% in the second quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock worth $134,000 after acquiring an additional 4,400 shares in the last quarter. Strs Ohio raised its position in Performance Food Group by 4,700.0% in the third quarter. Strs Ohio now owns 4,800 shares of the restaurant operator’s stock worth $135,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Performance Food Group in the second quarter worth $141,000. Hedge funds and other institutional investors own 79.50% 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.

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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