A number of other equities analysts have also weighed in on PFGC. Zacks Investment Research lowered Performance Food Group from a hold rating to a sell rating in a research note on Saturday, January 21st. Barclays PLC lowered Performance Food Group from an overweight rating to an equal weight rating and lowered their price objective for the stock from $28.00 to $25.00 in a research note on Tuesday, January 24th. Royal Bank of Canada initiated coverage on Performance Food Group in a research note on Tuesday, January 24th. They set a sector perform rating and a $24.00 price objective on the stock. Guggenheim restated a buy rating and set a $29.00 price objective on shares of Performance Food Group in a research note on Wednesday, February 8th. Finally, Wells Fargo & Co restated a hold rating on shares of Performance Food Group in a research note on Wednesday, February 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $28.33.
Shares of Performance Food Group (NYSE:PFGC) traded up 0.72% on Tuesday, reaching $27.80. The company’s stock had a trading volume of 396,718 shares. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 33.37 and a beta of -0.63. The company’s 50 day moving average is $25.04 and its 200-day moving average is $23.69. Performance Food Group has a 1-year low of $19.95 and a 1-year high of $29.12.
Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 10th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Performance Food Group had a return on equity of 12.86% and a net margin of 0.45%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Equities research analysts expect that Performance Food Group will post $1.26 EPS for the current year.
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A number of hedge funds have recently modified their holdings of PFGC. FMR LLC raised its stake in shares of Performance Food Group by 344.4% in the first quarter. FMR LLC now owns 12,255,431 shares of the restaurant operator’s stock worth $291,680,000 after buying an additional 9,497,642 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Performance Food Group during the first quarter worth approximately $70,404,000. Vanguard Group Inc. raised its stake in shares of Performance Food Group by 56.9% in the first quarter. Vanguard Group Inc. now owns 5,780,990 shares of the restaurant operator’s stock worth $137,588,000 after buying an additional 2,095,631 shares in the last quarter. Fred Alger Management Inc. raised its stake in shares of Performance Food Group by 240.4% in the fourth quarter. Fred Alger Management Inc. now owns 1,867,999 shares of the restaurant operator’s stock worth $44,832,000 after buying an additional 1,319,193 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in shares of Performance Food Group during the first quarter worth approximately $26,081,000. 80.99% 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. 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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