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 equities research analysts have also issued research reports about the company. Royal Bank of Canada reiterated a sector perform rating and issued a $24.00 target price on shares of Performance Food Group in a research note on Friday, February 10th. Goldman Sachs Group Inc reiterated a buy rating and issued a $29.00 target price (down previously from $30.00) on shares of Performance Food Group in a research note on Friday, March 17th. Guggenheim reiterated a buy rating and issued a $29.00 target price on shares of Performance Food Group in a research note on Wednesday, February 8th. Wells Fargo & Co reiterated a hold rating on shares of Performance Food Group in a research note on Wednesday, February 8th. Finally, Barclays PLC lowered Performance Food Group from an overweight rating to an equal weight rating and lowered their target price for the company from $28.00 to $25.00 in a research note on Tuesday, January 24th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $26.50.
Performance Food Group (NYSE:PFGC) opened at 23.20 on Wednesday. Performance Food Group has a 52-week low of $19.95 and a 52-week high of $28.13. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 32.31 and a beta of -0.63. The firm’s 50-day moving average price is $23.32 and its 200 day moving average price is $23.56.
Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Performance Food Group had a return on equity of 12.86% and a net margin of 0.45%. The business earned $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Performance Food Group will post $1.23 EPS for the current year.
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In related news, major shareholder Blackstone Capital Partners V sold 9,728,297 shares of the stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $22.67, for a total value of $220,540,492.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Performance Food Group by 36.4% in the third quarter. JPMorgan Chase & Co. now owns 3,209,058 shares of the company’s stock worth $79,584,000 after buying an additional 856,294 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Performance Food Group during the third quarter worth approximately $1,742,000. Victory Capital Management Inc. acquired a new position in shares of Performance Food Group during the third quarter worth approximately $21,575,000. TD Asset Management Inc. increased its position in shares of Performance Food Group by 31.5% in the third quarter. TD Asset Management Inc. now owns 14,600 shares of the company’s stock worth $362,000 after buying an additional 3,500 shares in the last quarter. Finally, Smith Asset Management Group LP increased its position in shares of Performance Food Group by 51.7% in the third quarter. Smith Asset Management Group LP now owns 6,893 shares of the company’s stock worth $171,000 after buying an additional 2,350 shares in the last quarter. 80.99% of the stock is owned by hedge funds and other institutional investors.
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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