Performance Food Group Company (PFGC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Performance Food Group Company (NYSE:PFGC) have earned an average rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $29.00.
A number of analysts have recently weighed in on PFGC shares. BidaskClub lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Guggenheim reaffirmed a “buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of Performance Food Group in a research report on Wednesday, September 6th. BMO Capital Markets set a $30.00 price objective on Performance Food Group and gave the stock a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Morgan Stanley upped their price objective on Performance Food Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 13th.
In other news, insider James D. Hope bought 3,575 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of $26.99 per share, for a total transaction of $96,489.25. Following the completion of the purchase, the insider now owns 65,480 shares in the company, valued at approximately $1,767,305.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the business’s stock in a transaction on 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. Insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP boosted its stake in Performance Food Group by 16.0% in the second quarter. Davidson Kempner Capital Management LP now owns 1,450,000 shares of the restaurant operator’s stock valued at $39,730,000 after acquiring an additional 200,000 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Performance Food Group by 25.6% in the second quarter. Public Employees Retirement System of Ohio now owns 5,780 shares of the restaurant operator’s stock valued at $158,000 after acquiring an additional 1,177 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Performance Food Group by 113.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,242 shares of the restaurant operator’s stock valued at $171,000 after acquiring an additional 3,324 shares in the last quarter. California State Teachers Retirement System boosted its stake in Performance Food Group by 70.9% in the second quarter. California State Teachers Retirement System now owns 125,996 shares of the restaurant operator’s stock valued at $3,452,000 after acquiring an additional 52,267 shares in the last quarter. Finally, 361 Capital LLC acquired a new position in Performance Food Group in the second quarter valued at $403,000. Institutional investors own 78.69% of the company’s stock.
Shares of Performance Food Group (NYSE PFGC) traded down 1.39% during mid-day trading on Friday, reaching $28.40. The company’s stock had a trading volume of 585,297 shares. The stock has a 50 day moving average of $27.74 and a 200-day moving average of $26.52. Performance Food Group has a one year low of $19.95 and a one year high of $29.90. The stock has a market cap of $2.96 billion, a P/E ratio of 30.54 and a beta of -0.28.
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 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 for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group will post $1.43 EPS for the current fiscal year.
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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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