Performance Food Group (PFGC) Shares Gap Down to $31.15

Performance Food Group Company (NYSE:PFGC) gapped down prior to trading on Wednesday . The stock had previously closed at $31.90, but opened at $31.15. Performance Food Group shares last traded at $29.85, with a volume of 3812900 shares trading hands.

PFGC has been the topic of a number of analyst reports. BidaskClub lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Guggenheim reiterated a “buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of Performance Food Group in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Performance Food Group from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Thursday, October 5th. TheStreet upgraded Performance Food Group from a “c” rating to a “b-” rating in a research report on Monday, October 2nd. Finally, BMO Capital Markets upped their price target on Performance Food Group from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.88.

The company has a current ratio of 1.55, a quick ratio of 0.80 and a debt-to-equity ratio of 1.42. The company has a market cap of $3,259.48, a PE ratio of 23.78, a P/E/G ratio of 1.19 and a beta of -0.21.

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

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

A number of large investors have recently made changes to their positions in PFGC. FMR LLC boosted its holdings in Performance Food Group by 20.3% in the second quarter. FMR LLC now owns 14,747,833 shares of the restaurant operator’s stock worth $404,090,000 after acquiring an additional 2,492,402 shares in the last quarter. BlackRock Inc. boosted its holdings in Performance Food Group by 62.4% in the second quarter. BlackRock Inc. now owns 5,336,665 shares of the restaurant operator’s stock worth $146,224,000 after acquiring an additional 2,049,633 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Performance Food Group by 97.2% in the second quarter. Victory Capital Management Inc. now owns 3,526,649 shares of the restaurant operator’s stock worth $96,631,000 after acquiring an additional 1,738,128 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Performance Food Group by 16.6% in the second quarter. Vanguard Group Inc. now owns 6,738,910 shares of the restaurant operator’s stock worth $184,646,000 after acquiring an additional 957,920 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Performance Food Group by 92.3% in the second quarter. Citadel Advisors LLC now owns 1,613,929 shares of the restaurant operator’s stock worth $44,222,000 after acquiring an additional 774,804 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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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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