Performance Food Group (PFGC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Performance Food Group (NYSE:PFGC) from a hold rating to a sell rating in a research report released on Tuesday.

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 equities research analysts have also recently commented on PFGC. Wells Fargo & Co raised their price target on shares of Performance Food Group from $40.00 to $46.00 and gave the stock a $38.15 rating in a report on Wednesday, July 18th. Loop Capital raised their price target on shares of Performance Food Group to $47.00 and gave the stock a buy rating in a report on Thursday, July 19th. Guggenheim restated a buy rating and issued a $43.00 price target on shares of Performance Food Group in a report on Friday, July 20th. Royal Bank of Canada raised their price target on shares of Performance Food Group from $32.00 to $33.00 and gave the stock a sector perform rating in a report on Friday, August 10th. Finally, BMO Capital Markets reduced their price target on shares of Performance Food Group from $40.00 to $38.00 and set a buy rating for the company in a report on Thursday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $38.45.

Shares of PFGC traded up $0.05 during trading hours on Tuesday, hitting $32.63. 1,106,476 shares of the stock were exchanged, compared to its average volume of 835,835. Performance Food Group has a fifty-two week low of $27.35 and a fifty-two week high of $39.45. The company has a quick ratio of 0.78, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. The stock has a market cap of $3.44 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.54.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, November 7th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. Performance Food Group had a net margin of 1.15% and a return on equity of 15.86%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the company posted $0.27 earnings per share. Performance Food Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that Performance Food Group will post 1.74 EPS for the current fiscal year.

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,083 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $33.20, for a total value of $268,355.60. Following the transaction, the insider now directly owns 182,450 shares of the company’s stock, valued at $6,057,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carol A. O’connell sold 4,505 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $34.00, for a total transaction of $153,170.00. Following the completion of the transaction, the insider now directly owns 20,891 shares in the company, valued at $710,294. The disclosure for this sale can be found here. Insiders sold 68,294 shares of company stock valued at $2,263,070 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in shares of Performance Food Group in the second quarter valued at $219,000. NumerixS Investment Technologies Inc lifted its stake in shares of Performance Food Group by 57.5% in the second quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the restaurant operator’s stock valued at $234,000 after buying an additional 2,300 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Performance Food Group by 620.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,419 shares of the restaurant operator’s stock valued at $236,000 after buying an additional 5,528 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Performance Food Group in the first quarter valued at $200,000. Finally, Signition LP bought a new position in shares of Performance Food Group in the third quarter valued at $234,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

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, including 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 beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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