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Performance Food Group Co (PFGC) Receives $37.89 Average PT from Brokerages

Shares of Performance Food Group Co (NYSE:PFGC) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $37.89.

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PFGC has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Royal Bank of Canada lifted their price objective on shares of Performance Food Group from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. Jefferies Financial Group initiated coverage on shares of Performance Food Group in a research note on Friday, June 8th. They issued a “hold” rating and a $38.00 price objective for the company. ValuEngine lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley reduced their price objective on shares of Performance Food Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, August 16th.

In other Performance Food Group news, insider George L. Holm sold 22,672 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $33.08, for a total value of $749,989.76. Following the completion of the transaction, the insider now directly owns 1,757,975 shares of the company’s stock, valued at approximately $58,153,813. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider George L. Holm sold 56,176 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $36.43, for a total transaction of $2,046,491.68. Following the completion of the transaction, the insider now directly owns 166,937 shares of the company’s stock, valued at $6,081,514.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,220 shares of company stock valued at $3,501,970. Insiders own 3.70% of the company’s stock.

A number of large investors have recently made changes to their positions in PFGC. Sterling Capital Management LLC bought a new position in Performance Food Group in the 2nd quarter valued at $24,545,000. Millennium Management LLC boosted its holdings in Performance Food Group by 202.6% in the 2nd quarter. Millennium Management LLC now owns 705,332 shares of the restaurant operator’s stock valued at $25,886,000 after purchasing an additional 472,273 shares during the period. Scopus Asset Management L.P. boosted its holdings in Performance Food Group by 420.0% in the 2nd quarter. Scopus Asset Management L.P. now owns 520,000 shares of the restaurant operator’s stock valued at $19,084,000 after purchasing an additional 420,000 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Performance Food Group by 62.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,026,740 shares of the restaurant operator’s stock worth $37,681,000 after acquiring an additional 395,836 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Performance Food Group by 10.2% during the 1st quarter. Victory Capital Management Inc. now owns 4,186,365 shares of the restaurant operator’s stock worth $124,963,000 after acquiring an additional 388,992 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group stock traded up $0.40 during mid-day trading on Monday, reaching $32.50. The company’s stock had a trading volume of 543,400 shares, compared to its average volume of 670,138. Performance Food Group has a 12-month low of $26.35 and a 12-month high of $39.45. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 1.05 and a beta of 0.19. The company has a current ratio of 1.50, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, August 15th. The restaurant operator reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Performance Food Group had a net margin of 1.13% and a return on equity of 15.58%. The business had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts forecast that Performance Food Group will post 1.74 EPS for the current year.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, such as meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as seafood products, shortenings and oils, baked goods, and salad dressings.

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