Performance Food Group Company (NYSE:PFGC) has received a consensus rating of “Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $27.98.
A number of equities analysts have recently issued reports on PFGC shares. Loop Capital started coverage on shares of Performance Food Group in a research note on Monday, May 15th. They issued a “buy” rating and a $35.00 price objective for the company. Zacks Investment Research cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut shares of Performance Food Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. BMO Capital Markets reiterated a “buy” rating and set a $28.00 target price on shares of Performance Food Group in a research report on Thursday, May 4th. Finally, Guggenheim increased their target price on shares of Performance Food Group from $20.00 to $30.00 in a research report on Friday, June 16th.
Performance Food Group (PFGC) remained flat at $26.95 on Friday. 439,590 shares of the company were exchanged. Performance Food Group has a 12-month low of $19.95 and a 12-month high of $29.25. The stock has a 50-day moving average price of $27.78 and a 200 day moving average price of $25.58. The company has a market cap of $2.80 billion, a PE ratio of 32.35 and a beta of -0.31.
Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 10th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Performance Food Group had a net margin of 0.51% and a return on equity of 13.92%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that Performance Food Group will post $1.26 earnings per share for the current fiscal year.
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In related news, major shareholder Holdings L.P. Blackstone III sold 13,700,465 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $27.41, for a total value of $375,529,745.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George L. Holm sold 102,200 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $28.23, for a total value of $2,885,106.00. Following the completion of the transaction, the insider now directly owns 2,040,936 shares of the company’s stock, valued at approximately $57,615,623.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,810,265 shares of company stock valued at $378,625,068. Company insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in Performance Food Group during the fourth quarter valued at about $1,227,000. State Street Corp increased its position in Performance Food Group by 10.4% in the fourth quarter. State Street Corp now owns 654,364 shares of the restaurant operator’s stock valued at $15,706,000 after buying an additional 61,579 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Performance Food Group during the fourth quarter valued at approximately $629,000. Norges Bank bought a new stake in shares of Performance Food Group during the fourth quarter valued at approximately $8,880,000. Finally, Teachers Advisors LLC boosted its stake in shares of Performance Food Group by 31.7% in the fourth quarter. Teachers Advisors LLC now owns 80,236 shares of the restaurant operator’s stock valued at $1,926,000 after buying an additional 19,313 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.
About Performance Food Group
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.
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