Performance Food Group (NYSE:PFGC) Posts Earnings Results, Beats Expectations By $0.07 EPS

Performance Food Group (NYSE:PFGC) posted its quarterly earnings results on Wednesday. The food distribution company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07, Bloomberg Earnings reports. Performance Food Group had a net margin of 0.91% and a return on equity of 14.91%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was up 28.4% compared to the same quarter last year. Performance Food Group updated its FY 2020 guidance to $1.92-2.04 EPS.

Shares of PFGC stock opened at $43.80 on Wednesday. Performance Food Group has a 12 month low of $28.05 and a 12 month high of $44.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 1.45. The company’s 50 day moving average is $42.31. The firm has a market capitalization of $4.61 billion, a P/E ratio of 28.44, a PEG ratio of 1.88 and a beta of 0.66.

A number of equities analysts recently commented on PFGC shares. Loop Capital set a $48.00 price objective on Performance Food Group and gave the stock a “buy” rating in a report on Friday, July 5th. ValuEngine downgraded Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America started coverage on Performance Food Group in a report on Wednesday, April 17th. They issued a “buy” rating and a $45.00 price objective on the stock. BMO Capital Markets increased their price objective on Performance Food Group to $48.00 and gave the stock a “positive” rating in a report on Friday, July 12th. Finally, Wells Fargo & Co increased their price objective on Performance Food Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Performance Food Group has a consensus rating of “Buy” and an average target price of $41.90.

In other Performance Food Group news, insider Patrick T. Hagerty sold 7,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $38.99, for a total transaction of $272,930.00. Following the transaction, the insider now owns 155,006 shares in the company, valued at $6,043,683.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 21,000 shares of company stock worth $861,280. Corporate insiders own 3.80% of the company’s stock.

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, 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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Earnings History for Performance Food Group (NYSE:PFGC)

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