Performance Food Group (NYSE:PFGC) Issues Earnings Results

Performance Food Group (NYSE:PFGC) released its quarterly earnings data on Wednesday. The food distribution company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03), Briefing.com reports. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue was up .6% compared to the same quarter last year. Performance Food Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Performance Food Group Trading Up 2.1 %

Shares of PFGC stock traded up $1.44 on Thursday, hitting $70.62. 725,303 shares of the company’s stock traded hands, compared to its average volume of 977,090. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 0.95 and a beta of 1.40. The company’s fifty day simple moving average is $72.57 and its 200 day simple moving average is $69.25. Performance Food Group has a one year low of $52.92 and a one year high of $78.54.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PFGC shares. Barclays cut their price objective on shares of Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a report on Thursday. BMO Capital Markets increased their price objective on Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Stephens raised their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Morgan Stanley increased their price objective on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

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 through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.