Performance Food Group (PFGC) Shares Up 5.4%

Performance Food Group Company (NYSE:PFGC) shares shot up 5.4% on Tuesday . The stock traded as high as $31.25 and last traded at $31.15. 735,100 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 794,255 shares. The stock had previously closed at $29.55.

A number of brokerages have recently commented on PFGC. TheStreet lowered Performance Food Group from a “b-” rating to a “c” rating in a report on Monday, November 27th. Morgan Stanley increased their price objective on Performance Food Group from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Wells Fargo & Company raised Performance Food Group from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. BidaskClub raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Performance Food Group from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Performance Food Group presently has a consensus rating of “Buy” and an average target price of $30.88.

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.80 and a current ratio of 1.55. The firm has a market capitalization of $3,092.05, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.13 and a beta of -0.21.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.37 billion. Performance Food Group had a return on equity of 15.02% and a net margin of 0.62%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. equities research analysts expect that Performance Food Group Company will post 1.45 EPS for the current year.

In related news, insider Craig Howard Hoskins sold 4,450 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $27.81, for a total transaction of $123,754.50. Following the completion of the sale, the insider now owns 175,993 shares in the company, valued at approximately $4,894,365.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $28.25, for a total value of $141,250,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,004,450 shares of company stock valued at $281,523,755. 3.70% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Performance Food Group by 62.4% during the 2nd quarter. BlackRock Inc. now owns 5,336,665 shares of the restaurant operator’s stock valued at $146,224,000 after purchasing an additional 2,049,633 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $1,328,000. Keybank National Association OH bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $1,220,000. Engineers Gate Manager LP bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $2,648,000. Finally, Peregrine Capital Management LLC lifted its position in shares of Performance Food Group by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,160,506 shares of the restaurant operator’s stock worth $32,784,000 after acquiring an additional 39,451 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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Performance Food Group Company Profile

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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