Performance Food Group Company (PFGC) Raised to Buy at BidaskClub
BidaskClub upgraded shares of Performance Food Group Company (NYSE:PFGC) from a hold rating to a buy rating in a research report sent to investors on Monday morning.
A number of other research firms also recently weighed in on PFGC. Zacks Investment Research upgraded Performance Food Group from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Wednesday, June 14th. Guggenheim boosted their target price on Performance Food Group from $20.00 to $30.00 in a research report on Friday, June 16th. BMO Capital Markets set a $30.00 target price on Performance Food Group and gave the stock a buy rating in a research report on Tuesday, June 27th. Wells Fargo & Company restated a buy rating on shares of Performance Food Group in a research report on Tuesday, August 8th. 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $29.20.
Performance Food Group (PFGC) opened at 28.80 on Monday. Performance Food Group has a 12-month low of $19.95 and a 12-month high of $29.90. The stock has a 50 day moving average of $27.74 and a 200-day moving average of $26.52. The company has a market cap of $3.00 billion, a PE ratio of 30.97 and a beta of -0.28.
Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data 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). Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Performance Food Group will post $1.43 earnings per share for the current fiscal year.
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In other news, insider James D. Hope purchased 3,575 shares of Performance Food Group stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of $26.99 per share, with a total value of $96,489.25. Following the completion of the purchase, the insider now directly owns 65,480 shares in the company, valued at $1,767,305.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the company’s 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 disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of PFGC. Teachers Advisors LLC grew its stake in Performance Food Group by 31.7% in the fourth quarter. Teachers Advisors LLC now owns 80,236 shares of the restaurant operator’s stock worth $1,926,000 after purchasing an additional 19,313 shares during the period. Wells Fargo & Company MN grew its stake in Performance Food Group by 58.9% in the first quarter. Wells Fargo & Company MN now owns 199,243 shares of the restaurant operator’s stock worth $4,742,000 after purchasing an additional 73,864 shares during the period. Great West Life Assurance Co. Can grew its stake in Performance Food Group by 187.0% in the first quarter. Great West Life Assurance Co. Can now owns 6,600 shares of the restaurant operator’s stock worth $156,000 after purchasing an additional 4,300 shares during the period. First Trust Advisors LP grew its stake in Performance Food Group by 158.1% in the first quarter. First Trust Advisors LP now owns 50,511 shares of the restaurant operator’s stock worth $1,202,000 after purchasing an additional 30,939 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Performance Food Group by 85.2% in the first quarter. Advisors Asset Management Inc. now owns 8,058 shares of the restaurant operator’s stock worth $192,000 after purchasing an additional 3,706 shares during the period. 78.69% of the stock is currently owned by institutional investors.
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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