Performance Food Group (NYSE:PFGC) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of Performance Food Group (NYSE:PFGC) from a hold rating to a sell rating in a research note released on Tuesday morning, ValuEngine reports.

PFGC has been the topic of a number of other reports. Bank of America boosted their price target on Performance Food Group from $45.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, October 2nd. Guggenheim reissued a buy rating and issued a $50.00 price target (up from $46.00) on shares of Performance Food Group in a research report on Thursday, August 15th. Zacks Investment Research cut Performance Food Group from a hold rating to a sell rating in a research report on Wednesday, October 16th. Buckingham Research boosted their price target on Performance Food Group from $47.00 to $53.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Co reissued a buy rating on shares of Performance Food Group in a research report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Performance Food Group currently has a consensus rating of Buy and a consensus price target of $47.67.

Shares of PFGC opened at $42.03 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average price is $45.11 and its 200-day moving average price is $42.48. Performance Food Group has a 52 week low of $28.28 and a 52 week high of $47.26. The stock has a market cap of $4.54 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.88 and a beta of 0.62.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Performance Food Group had a return on equity of 15.86% and a net margin of 0.84%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, equities analysts anticipate that Performance Food Group will post 1.99 EPS for the current year.

In related news, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $46.57, for a total value of $325,990.00. Following the completion of the transaction, the insider now directly owns 138,406 shares in the company, valued at approximately $6,445,567.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine R. Vlahcevic sold 7,879 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $45.27, for a total transaction of $356,682.33. Following the completion of the transaction, the insider now owns 19,807 shares of the company’s stock, valued at $896,662.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,888 shares of company stock valued at $1,736,348. 3.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new position in Performance Food Group in the 2nd quarter worth $45,000. Meeder Asset Management Inc. purchased a new position in shares of Performance Food Group during the second quarter worth approximately $54,000. NEXT Financial Group Inc increased its position in shares of Performance Food Group by 12.9% during the second quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock worth $85,000 after acquiring an additional 242 shares during the period. Convergence Investment Partners LLC purchased a new position in shares of Performance Food Group during the second quarter worth approximately $185,000. Finally, Bailard Inc. purchased a new position in shares of Performance Food Group during the third quarter worth approximately $202,000. Institutional investors and hedge funds own 96.54% 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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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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