Performance Food Group (NYSE:PFGC) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Performance Food Group (NYSE:PFGC) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

PFGC has been the subject of a number of other research reports. ValuEngine upgraded shares of Performance Food Group from a sell rating to a hold rating in a research note on Wednesday. Bank of America increased their price target on shares of Performance Food Group from $45.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, October 2nd. BMO Capital Markets increased their price target on shares of Performance Food Group to $52.00 and gave the company an outperform rating in a research note on Thursday, August 15th. Wells Fargo & Co reiterated a buy rating on shares of Performance Food Group in a research note on Friday, September 27th. Finally, Loop Capital increased their price target on shares of Performance Food Group to $50.00 and gave the company a buy rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Performance Food Group has an average rating of Buy and a consensus price target of $48.10.

Performance Food Group stock traded down $1.61 during mid-day trading on Friday, reaching $44.14. The company’s stock had a trading volume of 706,952 shares, compared to its average volume of 630,763. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.60. Performance Food Group has a 12 month low of $30.07 and a 12 month high of $47.26. The business’s 50 day simple moving average is $44.07 and its 200 day simple moving average is $42.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.77 and a current ratio of 1.57.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, November 6th. The food distribution company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.15. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.10 billion. Performance Food Group had a net margin of 0.84% and a return on equity of 15.86%. The firm’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts expect that Performance Food Group will post 1.98 EPS for the current year.

In other news, insider Christine R. Vlahcevic sold 7,879 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $45.27, for a total transaction of $356,682.33. Following the completion of the sale, the insider now owns 19,807 shares in the company, valued at approximately $896,662.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patrick T. Hagerty sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.57, for a total transaction of $325,990.00. Following the sale, the insider now owns 138,406 shares of the company’s stock, valued at approximately $6,445,567.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,888 shares of company stock valued at $1,429,538. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Performance Food Group by 8.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,555,700 shares of the food distribution company’s stock worth $71,578,000 after buying an additional 115,035 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Performance Food Group by 41.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 843,800 shares of the food distribution company’s stock worth $38,823,000 after buying an additional 246,350 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of Performance Food Group during the 3rd quarter worth about $204,000. Boston Advisors LLC lifted its stake in shares of Performance Food Group by 24.1% during the 3rd quarter. Boston Advisors LLC now owns 50,162 shares of the food distribution company’s stock worth $2,308,000 after buying an additional 9,750 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Performance Food Group by 373.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,345 shares of the food distribution company’s stock worth $246,000 after buying an additional 4,215 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

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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