TheStreet cut shares of Performance Food Group (NYSE:PFGC) from a b- rating to a c+ rating in a research note released on Tuesday morning, TheStreetRatingsTable reports.
A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group raised shares of Performance Food Group from a hold rating to a buy rating and cut their price objective for the stock from $55.00 to $42.00 in a research report on Thursday. Zacks Investment Research raised shares of Performance Food Group from a hold rating to a strong-buy rating and set a $59.00 price objective on the stock in a research report on Saturday, December 28th. Buckingham Research increased their price objective on shares of Performance Food Group from $58.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, February 6th. Wells Fargo & Co cut their price objective on shares of Performance Food Group from $59.00 to $40.00 and set an overweight rating on the stock in a research report on Monday, March 16th. Finally, ValuEngine raised shares of Performance Food Group from a sell rating to a hold rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $51.67.
Shares of PFGC opened at $28.04 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.31 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $2.61 billion, a P/E ratio of 17.10 and a beta of 0.87. The firm’s fifty day simple moving average is $39.71 and its two-hundred day simple moving average is $45.37. Performance Food Group has a 12 month low of $7.41 and a 12 month high of $54.49.
Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.14. The business had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.16%. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, research analysts predict that Performance Food Group will post 2.24 EPS for the current fiscal year.
In other Performance Food Group news, Director Matthew C. Flanigan bought 4,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $53.57 per share, for a total transaction of $214,280.00. Following the acquisition, the director now directly owns 7,161 shares of the company’s stock, valued at approximately $383,614.77. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew C. Flanigan bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $41.86 per share, for a total transaction of $83,720.00. Following the acquisition, the director now directly owns 15,174 shares in the company, valued at $635,183.64. The disclosure for this purchase can be found here. Insiders purchased a total of 9,987 shares of company stock worth $507,158 in the last 90 days. 3.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Performance Food Group in the 4th quarter worth about $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of Performance Food Group in the 4th quarter worth about $54,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Performance Food Group in the 4th quarter worth about $59,000. Nisa Investment Advisors LLC raised its holdings in shares of Performance Food Group by 56.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,390 shares of the food distribution company’s stock worth $72,000 after acquiring an additional 500 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Performance Food Group by 61.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,218 shares of the food distribution company’s stock worth $115,000 after acquiring an additional 847 shares during the last quarter. Institutional investors own 97.11% 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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