Performance Food Group (NYSE:PFGC) Releases Earnings Results, Meets Estimates

Performance Food Group (NYSE:PFGCGet Rating) issued its quarterly earnings data on Wednesday. The food distribution company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51, MarketWatch Earnings reports. Performance Food Group had a net margin of 0.15% and a return on equity of 10.51%. During the same quarter last year, the business earned $0.19 EPS. Performance Food Group updated its FY 2022 guidance to EPS.

NYSE PFGC opened at $45.23 on Friday. The company has a market capitalization of $7.00 billion, a PE ratio of 98.33, a P/E/G ratio of 1.11 and a beta of 1.45. The company has a fifty day moving average of $50.02 and a 200 day moving average of $47.85. Performance Food Group has a 1 year low of $38.82 and a 1 year high of $58.13. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.59 and a quick ratio of 0.68.

In related news, insider Patrick T. Hagerty sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $52.87, for a total transaction of $528,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick T. Hagerty sold 500 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $51.06, for a total transaction of $25,530.00. Following the transaction, the insider now owns 148,325 shares of the company’s stock, valued at $7,573,474.50. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock valued at $578,970 over the last 90 days. 2.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Performance Food Group by 2.2% during the 4th quarter. BlackRock Inc. now owns 18,025,135 shares of the food distribution company’s stock valued at $827,173,000 after acquiring an additional 388,510 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Performance Food Group by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 15,062,328 shares of the food distribution company’s stock valued at $766,824,000 after purchasing an additional 155,981 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Performance Food Group by 4.7% in the 1st quarter. Clearbridge Investments LLC now owns 5,481,192 shares of the food distribution company’s stock worth $279,047,000 after acquiring an additional 248,404 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Performance Food Group by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,799,617 shares of the food distribution company’s stock worth $91,619,000 after acquiring an additional 28,959 shares during the last quarter. Finally, Sunriver Management LLC lifted its holdings in shares of Performance Food Group by 4.5% in the 1st quarter. Sunriver Management LLC now owns 699,145 shares of the food distribution company’s stock worth $35,593,000 after acquiring an additional 30,283 shares during the last quarter.

Several brokerages have weighed in on PFGC. CL King began coverage on shares of Performance Food Group in a research note on Friday, March 11th. They issued a “buy” rating and a $60.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Performance Food Group from $62.00 to $58.00 in a research note on Friday. Truist Financial started coverage on shares of Performance Food Group in a research note on Tuesday, February 1st. They set a “buy” rating and a $61.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Performance Food Group from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, February 10th. Finally, Zacks Investment Research downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Saturday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $62.00.

About Performance Food Group (Get Rating)

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through two segments, Foodservice and Vistar. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products, as well as beef, pork, poultry, and seafood.

Further Reading

Earnings History for Performance Food Group (NYSE:PFGC)

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