Performance Food Group (NYSE:PFGC) had its price objective upped by investment analysts at Royal Bank of Canada from $32.00 to $33.00 in a research note issued on Friday. The brokerage currently has a “sector perform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 9.64% from the company’s previous close.
A number of other research firms also recently commented on PFGC. Zacks Investment Research upgraded Performance Food Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Friday, July 20th. Loop Capital set a $43.00 price target on Performance Food Group and gave the stock a “buy” rating in a research note on Thursday, May 10th. Jefferies Financial Group initiated coverage on Performance Food Group in a research note on Friday, June 8th. They issued a “hold” rating and a $38.00 price target for the company. Pivotal Research reiterated a “hold” rating and issued a $31.00 price target on shares of Performance Food Group in a research note on Thursday, May 10th. Finally, ValuEngine upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $38.40.
Performance Food Group traded down $0.38, reaching $36.52, during mid-day trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 9,300 shares, compared to its average volume of 581,836. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 0.96 and a beta of 0.28. Performance Food Group has a 1-year low of $25.40 and a 1-year high of $39.45. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.78 and a current ratio of 1.51.
Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, May 9th. The restaurant operator reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Performance Food Group had a return on equity of 15.76% and a net margin of 1.00%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. equities research analysts forecast that Performance Food Group will post 1.6 EPS for the current fiscal year.
In other Performance Food Group news, insider Terry A. West sold 4,656 shares of the firm’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $34.97, for a total value of $162,820.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider George L. Holm sold 56,176 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $36.43, for a total transaction of $2,046,491.68. Following the completion of the transaction, the insider now directly owns 166,937 shares in the company, valued at approximately $6,081,514.91. The disclosure for this sale can be found here. Insiders sold 101,537 shares of company stock worth $3,646,126 in the last three months. 3.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Brown Advisory Inc. bought a new stake in shares of Performance Food Group during the first quarter valued at approximately $200,000. Sciencast Management LP bought a new stake in shares of Performance Food Group during the first quarter valued at approximately $212,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Performance Food Group during the fourth quarter valued at approximately $240,000. West Branch Capital LLC bought a new stake in shares of Performance Food Group during the first quarter valued at approximately $236,000. Finally, Standard Life Aberdeen plc bought a new stake in shares of Performance Food Group during the second quarter valued at approximately $355,000. 93.95% of the stock is currently 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 in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, such as 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 seafood products, shortenings and oils, baked goods, and salad dressings.
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