Performance Food Group (PFGC) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Performance Food Group (NYSE:PFGC) from a hold rating to a buy rating in a research report report published on Wednesday.

A number of other analysts also recently commented on PFGC. Zacks Investment Research upgraded Performance Food Group from a sell rating to a hold rating in a research report on Wednesday, June 27th. Wells Fargo & Co increased their target price on 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 increased their target price on Performance Food Group to $47.00 and gave the stock a buy rating in a report on Thursday, July 19th. Guggenheim reissued a buy rating and issued a $43.00 target price on shares of Performance Food Group in a report on Friday, July 20th. Finally, Royal Bank of Canada increased their target price on Performance Food Group from $32.00 to $33.00 and gave the stock a sector perform rating in a report on Friday, August 10th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Performance Food Group currently has a consensus rating of Buy and a consensus target price of $38.45.

NYSE:PFGC traded down $0.95 during mid-day trading on Wednesday, hitting $28.76. 518,471 shares of the company’s stock traded hands, compared to its average volume of 847,049. The company has a quick ratio of 0.78, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. Performance Food Group has a 12 month low of $26.35 and a 12 month high of $39.45. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 0.98 and a beta of 0.18.



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

In related news, insider Patrick T. Hagerty sold 8,083 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $33.20, for a total transaction of $268,355.60. Following the completion of the sale, the insider now directly owns 182,450 shares of the company’s stock, valued at approximately $6,057,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 4,450 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $33.63, for a total value of $149,653.50. Following the sale, the insider now directly owns 125,526 shares of the company’s stock, valued at $4,221,439.38. The disclosure for this sale can be found here. Insiders have sold a total of 75,233 shares of company stock valued at $2,521,056 over the last ninety days. Insiders own 3.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PFGC. Dimensional Fund Advisors LP increased its stake in shares of Performance Food Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,908,499 shares of the restaurant operator’s stock valued at $70,044,000 after buying an additional 168,076 shares during the period. NumerixS Investment Technologies Inc increased its stake in shares of Performance Food Group by 57.5% in the 2nd 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 during the period. Sterling Capital Management LLC acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at $24,545,000. Commonwealth Bank of Australia acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at $885,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at $219,000. 94.96% of the stock is 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.

Featured Article: The benefits and drawbacks of dollar cost averaging

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply