Performance Food Group (NYSE:PFGC) Issues Quarterly Earnings Results

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

Performance Food Group Stock Performance

NYSE:PFGC traded up $1.53 during trading hours on Thursday, reaching $70.71. The company had a trading volume of 676,784 shares, compared to its average volume of 976,433. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54. The firm has a market cap of $11.00 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40. The business’s 50 day moving average price is $72.57 and its 200-day moving average price is $69.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stephens raised their price target on Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. BMO Capital Markets raised their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Barclays lowered their price target on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Morgan Stanley raised their price target 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

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 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.