ValuEngine Upgrades Performance Food Group (NYSE:PFGC) to Buy

ValuEngine upgraded shares of Performance Food Group (NYSE:PFGC) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.

A number of other research analysts also recently commented on PFGC. BMO Capital Markets increased their target price on Performance Food Group to $48.00 and gave the stock a positive rating in a report on Friday, July 12th. Wells Fargo & Co increased their target price on Performance Food Group from $45.00 to $50.00 and gave the stock an outperform rating in a report on Tuesday, July 30th. Bank of America began coverage on Performance Food Group in a report on Wednesday, April 17th. They set a buy rating and a $45.00 target price on the stock. Zacks Investment Research raised Performance Food Group from a sell rating to a hold rating in a report on Wednesday, August 14th. Finally, Loop Capital set a $48.00 target price on Performance Food Group and gave the stock a buy rating in a report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $46.89.

Shares of PFGC opened at $45.60 on Thursday. The company has a market capitalization of $4.76 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.97 and a beta of 0.66. Performance Food Group has a one year low of $28.05 and a one year high of $46.65. 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 stock has a 50-day moving average price of $42.64 and a 200 day moving average price of $40.13.

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, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.56 billion. Performance Food Group had a return on equity of 16.18% and a net margin of 0.84%. Performance Food Group’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. As a group, equities research analysts forecast that Performance Food Group will post 1.98 earnings per share for the current fiscal year.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $43.83, for a total transaction of $306,810.00. Following the sale, the insider now directly owns 141,006 shares in the company, valued at approximately $6,180,292.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 21,000 shares of company stock worth $861,280. 3.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Performance Food Group during the 1st quarter worth approximately $216,000. Bessemer Group Inc. raised its position in shares of Performance Food Group by 0.3% during the 2nd quarter. Bessemer Group Inc. now owns 118,500 shares of the food distribution company’s stock worth $4,744,000 after purchasing an additional 400 shares during the period. BlackRock Inc. raised its position in shares of Performance Food Group by 2.9% during the 1st quarter. BlackRock Inc. now owns 7,570,996 shares of the food distribution company’s stock worth $300,114,000 after purchasing an additional 212,027 shares during the period. Strs Ohio raised its position in shares of Performance Food Group by 7.5% during the 2nd quarter. Strs Ohio now owns 38,700 shares of the food distribution company’s stock worth $1,549,000 after purchasing an additional 2,700 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Performance Food Group during the 1st quarter worth approximately $335,000. Institutional investors and hedge funds own 95.77% 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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Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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