Performance Food Group (PFGC) Cut to “Hold” at Zacks Investment Research

Performance Food Group (NYSE:PFGC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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. “

Several other equities analysts have also recently issued reports on the stock. Loop Capital set a $35.00 price objective on shares of Performance Food Group and gave the stock a “buy” rating in a research note on Friday. TheStreet cut shares of Performance Food Group from a “b-” rating to a “c” rating in a research note on Monday, November 27th. Morgan Stanley lifted their price objective on shares of Performance Food Group from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Wells Fargo & Company upgraded shares of Performance Food Group from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. Finally, BidaskClub upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.88.

Performance Food Group (NYSE:PFGC) opened at $31.45 on Friday. The stock has a market cap of $3,196.69, a P/E ratio of 23.32, a PEG ratio of 1.17 and a beta of -0.21. The company has a quick ratio of 0.80, a current ratio of 1.55 and a debt-to-equity ratio of 1.42. Performance Food Group has a 52 week low of $21.70 and a 52 week high of $31.85.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Performance Food Group had a net margin of 0.62% and a return on equity of 15.02%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. research analysts expect that Performance Food Group will post 1.45 earnings per share for the current fiscal year.

In other Performance Food Group news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Howard Hoskins sold 4,450 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.81, for a total transaction of $123,754.50. Following the completion of the transaction, the insider now owns 175,993 shares of the company’s stock, valued at $4,894,365.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,277,364 shares of company stock valued at $467,703,842. Corporate insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Performance Food Group during the second quarter worth approximately $118,000. Pacad Investment Ltd. boosted its holdings in shares of Performance Food Group by 880.0% during the second quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 4,400 shares during the period. Strs Ohio boosted its holdings in shares of Performance Food Group by 4,700.0% during the third quarter. Strs Ohio now owns 4,800 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 4,700 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Performance Food Group during the second quarter worth approximately $141,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Performance Food Group by 25.6% during the second quarter. Public Employees Retirement System of Ohio now owns 5,780 shares of the restaurant operator’s stock worth $158,000 after purchasing an additional 1,177 shares during the period. Institutional investors own 82.36% 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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