Performance Food Group (PFGC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Performance Food Group (NYSE:PFGC) from a sell rating to a hold rating in a report issued on Wednesday morning.

According to Zacks, “Performance Food Group Company markets and distributes food and food-related products. Its operating segment consists of Foodservice, Vistar, and PFG Customized. Foodservice segment offers appetizers and soups, beverages, canned and dry foods, cheese, dairy products and eggs, desserts and breads, dressing sauces and oils, non-foods, pizzas and pastas, prepared foods, produce and vegetables and seafood products. Vistar segment offers candies, gum and mints, snacks, cold beverages, frozen products, coffees, ice creams, frozen and refrigerated entrees, disposables, cleaners and more. PFG Customized segment offers seafood, meats, produce, dairy products and smallwares. The company serves independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions. Performance Food Group Company is headquartered in Richmond, Virginia. “

Other equities analysts have also recently issued research reports about the stock. Pivotal Research reissued a hold rating and set a $31.00 target price on shares of Performance Food Group in a research report on Thursday, May 10th. ValuEngine raised shares of Performance Food Group from a hold rating to a buy rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Performance Food Group in a research report on Friday, June 8th. They set a hold rating and a $38.00 target price on the stock. Loop Capital set a $43.00 target price on shares of Performance Food Group and gave the stock a buy rating in a research report on Thursday, May 10th. Finally, Credit Suisse Group assumed coverage on shares of Performance Food Group in a research report on Tuesday, April 17th. They set an outperform rating and a $36.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $35.67.

Performance Food Group opened at $36.70 on Wednesday, Marketbeat.com reports. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.19 and a beta of 0.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.51 and a quick ratio of 0.78. Performance Food Group has a 52-week low of $25.40 and a 52-week high of $38.70.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 9th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Performance Food Group had a return on equity of 15.76% and a net margin of 1.00%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. analysts forecast that Performance Food Group will post 1.6 EPS for the current year.

In related news, insider Carol A. O’connell sold 113,568 shares of Performance Food Group stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $34.32, for a total value of $3,897,653.76. Following the sale, the insider now owns 142,378 shares of the company’s stock, valued at approximately $4,886,412.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick T. Hagerty sold 29,305 shares of Performance Food Group stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $35.35, for a total transaction of $1,035,931.75. Following the completion of the sale, the insider now directly owns 167,837 shares in the company, valued at approximately $5,933,037.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,479 shares of company stock worth $5,481,156. Insiders own 3.70% of the company’s stock.

Several large investors have recently bought and sold shares of PFGC. BlackRock Inc. raised its holdings in shares of Performance Food Group by 62.9% in the 4th quarter. BlackRock Inc. now owns 9,831,747 shares of the restaurant operator’s stock worth $325,432,000 after purchasing an additional 3,797,407 shares during the period. Cramer Rosenthal Mcglynn LLC raised its holdings in shares of Performance Food Group by 54.4% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 1,224,415 shares of the restaurant operator’s stock worth $40,528,000 after purchasing an additional 431,335 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Performance Food Group by 10.2% in the 1st quarter. Victory Capital Management Inc. now owns 4,186,365 shares of the restaurant operator’s stock worth $124,963,000 after purchasing an additional 388,992 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Performance Food Group by 27.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,740,423 shares of the restaurant operator’s stock worth $51,952,000 after purchasing an additional 375,955 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Performance Food Group by 82.7% in the 4th quarter. Deutsche Bank AG now owns 763,857 shares of the restaurant operator’s stock worth $25,281,000 after purchasing an additional 345,656 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Performance Food Group Company Profile

Performance Food Group Co engages in the market and distribution of food products. It operates its business through the following segments: Performance Foodservice; PFG Customized; Vistar; and Corporate and All Other. The Performance Foodservice segment offers beef, pork, poultry, and seafood, frozen foods, refrigerated products; dry groceries to disposables; cleaning and kitchen supplies; and related products used by its customers.

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