BidaskClub lowered shares of Performance Food Group Company (NYSE:PFGC) from a buy rating to a hold rating in a report released on Tuesday morning.
Other equities research analysts have also recently issued reports about the stock. Guggenheim increased their price objective on shares of Performance Food Group from $20.00 to $30.00 in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Performance Food Group from a hold rating to a buy rating and set a $31.00 price objective for the company in a research report on Wednesday, June 14th. BMO Capital Markets set a $30.00 price objective on shares of Performance Food Group and gave the stock a buy rating in a research report on Tuesday, June 27th. Wells Fargo & Company reiterated a buy rating on shares of Performance Food Group in a research report on Tuesday, August 8th. Finally, Loop Capital initiated coverage on shares of Performance Food Group in a research report on Monday, May 15th. They set a buy rating and a $35.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $29.00.
Performance Food Group (PFGC) opened at 28.90 on Tuesday. The company has a market capitalization of $3.01 billion, a PE ratio of 31.08 and a beta of -0.28. Performance Food Group has a 52 week low of $19.95 and a 52 week high of $29.25. The firm has a 50-day moving average of $27.76 and a 200-day moving average of $26.31.
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 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 firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts expect that Performance Food Group will post $1.43 earnings per share for the current fiscal year.
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In related news, insider James D. Hope bought 3,575 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Performance Food Group during the second quarter worth $118,000. Public Employees Retirement System of Ohio boosted its stake in Performance Food Group by 37.2% during the first quarter. Public Employees Retirement System of Ohio now owns 4,603 shares of the restaurant operator’s stock worth $110,000 after acquiring an additional 1,247 shares in the last quarter. Pacad Investment Ltd. boosted its stake in Performance Food Group by 880.0% during the second quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock worth $134,000 after acquiring an additional 4,400 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Performance Food Group during the second quarter worth $141,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Performance Food Group by 113.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,242 shares of the restaurant operator’s stock worth $171,000 after acquiring an additional 3,324 shares in the last quarter. 79.07% of the stock is currently owned by institutional investors and hedge funds.
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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