Performance Food Group (NYSE:PFGC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $35.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.06% from the stock’s previous close.
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. “
Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Performance Food Group from a “c” rating to a “b-” rating in a research note on Monday, October 2nd. BidaskClub raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Guggenheim reaffirmed a “buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of Performance Food Group in a research note on Wednesday, September 6th. Loop Capital set a $35.00 target price on shares of Performance Food Group and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley increased their target price on shares of Performance Food Group from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Performance Food Group has an average rating of “Buy” and an average target price of $31.25.
Shares of Performance Food Group (PFGC) opened at $31.80 on Tuesday. Performance Food Group has a 12 month low of $21.70 and a 12 month high of $32.00. The firm has a market cap of $3,293.48, a price-to-earnings ratio of 24.03, a PEG ratio of 1.21 and a beta of -0.21. The company has a quick ratio of 0.80, a current ratio of 1.55 and a debt-to-equity ratio of 1.42.
Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 8th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Performance Food Group had a net margin of 0.62% and a return on equity of 15.02%. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. sell-side analysts expect that Performance Food Group will post 1.45 EPS for the current year.
In related news, Director William F. Dawson, Jr. sold 5,000,000 shares of Performance Food Group stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $28.03, for a total value of $140,150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Dawson, Jr. sold 6,272,914 shares of Performance Food Group stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $29.68, for a total transaction of $186,180,087.52. The disclosure for this sale can be found here. Insiders sold a total of 11,277,364 shares of company stock valued at $326,453,842 over the last quarter. 3.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Performance Food Group during the 2nd quarter worth approximately $118,000. Pacad Investment Ltd. increased its holdings in shares of Performance Food Group by 880.0% during the 2nd quarter. Pacad Investment Ltd. now owns 4,900 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 4,400 shares in the last quarter. Strs Ohio increased its holdings in shares of Performance Food Group by 4,700.0% during the 3rd quarter. Strs Ohio now owns 4,800 shares of the restaurant operator’s stock valued at $135,000 after purchasing an additional 4,700 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Performance Food Group during the 2nd quarter valued at approximately $141,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Performance Food Group by 25.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,780 shares of the restaurant operator’s stock valued at $158,000 after purchasing an additional 1,177 shares in the last quarter. 82.36% of the stock is owned by institutional investors.
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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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