Performance Food Group (NYSE:PFGC) Announces Earnings Results, Misses Estimates By $0.09 EPS

Performance Food Group (NYSE:PFGC) released its earnings results on Wednesday. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.09), FiscalAI reports. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The firm had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Performance Food Group’s quarterly revenue was up 5.2% on a year-over-year basis.

Performance Food Group Price Performance

Performance Food Group stock opened at $88.50 on Wednesday. Performance Food Group has a 12 month low of $68.39 and a 12 month high of $109.05. The company has a market cap of $13.88 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 1.14 and a beta of 0.93. The business’s 50 day simple moving average is $93.23 and its 200 day simple moving average is $97.94. The company has a current ratio of 1.67, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Citigroup dropped their price objective on shares of Performance Food Group from $134.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Morgan Stanley set a $123.00 target price on shares of Performance Food Group in a research report on Tuesday, January 20th. Barclays dropped their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus target price of $118.22.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in PFGC. Danske Bank A S bought a new position in Performance Food Group during the third quarter valued at approximately $115,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Performance Food Group by 2.1% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 74,139 shares of the food distribution company’s stock valued at $7,733,000 after buying an additional 1,552 shares during the period. Caxton Associates LLP bought a new position in shares of Performance Food Group during the 3rd quarter valued at $5,804,000. Williamson Legacy Group LLC purchased a new position in shares of Performance Food Group in the 3rd quarter worth $348,000. Finally, Woodline Partners LP grew its holdings in shares of Performance Food Group by 27.9% in the third quarter. Woodline Partners LP now owns 1,009,267 shares of the food distribution company’s stock worth $105,004,000 after acquiring an additional 220,062 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.