Barclays PLC Reaffirms “Hold” Rating for Performance Food Group Company (PFGC)

Barclays PLC restated their hold rating on shares of Performance Food Group Company (NYSE:PFGC) in a research note released on Friday, May 12th. The firm currently has a $28.00 target price on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Performance Food Group Company from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Friday, May 12th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $29.00 target price (down previously from $30.00) on shares of Performance Food Group Company in a report on Friday, March 17th. BMO Capital Markets reissued a buy rating and set a $28.00 price objective on shares of Performance Food Group Company in a report on Thursday, May 4th. Royal Bank Of Canada reissued a sector perform rating and set a $24.00 price objective on shares of Performance Food Group Company in a report on Friday, February 10th. Finally, Guggenheim reaffirmed a buy rating and set a $29.00 target price on shares of Performance Food Group Company in a research report on Wednesday, February 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $28.44.

Performance Food Group Company (PFGC) traded up 1.25% during trading on Friday, reaching $28.25. The company’s stock had a trading volume of 2,441,286 shares. Performance Food Group Company has a 52-week low of $19.95 and a 52-week high of $29.12. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 33.91 and a beta of -0.36. The stock’s 50-day moving average is $27.49 and its 200 day moving average is $24.38.

Performance Food Group Company (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, May 10th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.11 billion. Performance Food Group Company had a return on equity of 13.92% and a net margin of 0.51%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, analysts predict that Performance Food Group Company will post $1.26 EPS for the current fiscal year.

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In related news, insider George L. Holm sold 102,200 shares of Performance Food Group Company stock in a transaction that occurred on 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 sale, the insider now owns 2,040,936 shares of the company’s stock, valued at approximately $57,615,623.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 13,700,465 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $27.41, for a total transaction of $375,529,745.65. The disclosure for this sale can be found here. Insiders sold a total of 13,810,265 shares of company stock worth $378,625,068 in the last 90 days. Company insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Performance Food Group Company by 1.0% in the third quarter. BlackRock Inc. now owns 17,411 shares of the restaurant operator’s stock valued at $432,000 after buying an additional 169 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Performance Food Group Company during the fourth quarter valued at $629,000. FMR LLC boosted its position in Performance Food Group Company by 182.3% in the fourth quarter. FMR LLC now owns 2,757,789 shares of the restaurant operator’s stock valued at $66,186,000 after buying an additional 1,780,989 shares during the last quarter. Three Peaks Capital Management LLC boosted its position in Performance Food Group Company by 3.4% in the third quarter. Three Peaks Capital Management LLC now owns 254,392 shares of the restaurant operator’s stock valued at $6,309,000 after buying an additional 8,392 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its position in Performance Food Group Company by 1.6% in the third quarter. BlackRock Investment Management LLC now owns 140,053 shares of the restaurant operator’s stock valued at $3,473,000 after buying an additional 2,233 shares during the last quarter. 81.48% of the stock is currently owned by hedge funds and other institutional investors.

About Performance Food Group Company

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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