Performance Food Group Company (PFGC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Performance Food Group Company (NYSE:PFGC) from a buy rating to a hold rating in a report published on Wednesday morning.

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. “

A number of other analysts also recently commented on the company. Goldman Sachs Group, Inc. (The) raised Performance Food Group from a buy rating to a conviction-buy rating in a research report on Thursday, March 16th. BMO Capital Markets reaffirmed a buy rating and set a $28.00 price target on shares of Performance Food Group in a research report on Thursday, May 4th. Barclays PLC reaffirmed a hold rating and set a $28.00 price target on shares of Performance Food Group in a research report on Friday, May 12th. Loop Capital assumed coverage on Performance Food Group in a research report on Monday, May 15th. They set a buy rating and a $35.00 price target for the company. Finally, Jefferies Group LLC reaffirmed a hold rating on shares of Performance Food Group in a research report on Tuesday, May 16th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Performance Food Group has an average rating of Buy and a consensus target price of $28.31.

Performance Food Group (PFGC) traded up 0.72% on Wednesday, hitting $28.15. The company’s stock had a trading volume of 433,516 shares. The stock has a market cap of $2.92 billion, a PE ratio of 33.79 and a beta of -0.34. Performance Food Group has a 12 month low of $19.95 and a 12 month high of $29.12. The firm has a 50 day moving average of $27.88 and a 200-day moving average of $24.72.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 10th. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.11 billion. Performance Food Group had a return on equity of 13.92% and a net margin of 0.51%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. On average, analysts expect that Performance Food Group will post $1.26 earnings per share for the current fiscal year.

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In related news, insider James D. Hope purchased 2,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was purchased at an average cost of $27.85 per share, with a total value of $55,700.00. Following the completion of the acquisition, the insider now directly owns 66,657 shares of the company’s stock, valued at $1,856,397.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider George L. Holm sold 102,200 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $28.23, for a total value of $2,885,106.00. Following the completion of the transaction, the insider now directly owns 2,040,936 shares of the company’s stock, valued at $57,615,623.28. The disclosure for this sale can be found here. Insiders sold 13,810,265 shares of company stock valued at $378,625,068 over the last three months. Company insiders own 3.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. UMB Bank N A MO raised its position in Performance Food Group by 5.3% in the first quarter. UMB Bank N A MO now owns 15,800 shares of the restaurant operator’s stock worth $376,000 after buying an additional 800 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Performance Food Group by 37.2% in the first quarter. Public Employees Retirement System of Ohio now owns 4,603 shares of the restaurant operator’s stock worth $110,000 after buying an additional 1,247 shares during the last quarter. American International Group Inc. raised its position in Performance Food Group by 7.1% in the first quarter. American International Group Inc. now owns 23,075 shares of the restaurant operator’s stock worth $549,000 after buying an additional 1,539 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in Performance Food Group by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 24,580 shares of the restaurant operator’s stock worth $673,000 after buying an additional 1,865 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in Performance Food Group by 22.8% in the first quarter. TD Asset Management Inc. now owns 19,400 shares of the restaurant operator’s stock worth $462,000 after buying an additional 3,600 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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