Performance Food Group (NYSE:PFGC) Cut to “Sell” at ValuEngine

Share on StockTwits

Performance Food Group (NYSE:PFGC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

PFGC has been the subject of a number of other research reports. Wells Fargo & Co reiterated a “buy” rating on shares of Performance Food Group in a research note on Friday, September 27th. BMO Capital Markets lifted their target price on shares of Performance Food Group to $52.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Buckingham Research lifted their target price on shares of Performance Food Group from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Loop Capital lifted their target price on shares of Performance Food Group to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America lifted their target price on shares of Performance Food Group from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $47.67.

Shares of NYSE:PFGC traded down $1.01 during trading on Tuesday, reaching $42.03. The stock had a trading volume of 381,328 shares, compared to its average volume of 629,719. Performance Food Group has a 52 week low of $28.28 and a 52 week high of $47.26. The business’s 50-day moving average price is $45.11 and its 200 day moving average price is $42.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 0.77. The stock has a market capitalization of $4.54 billion, a PE ratio of 22.72, a P/E/G ratio of 1.88 and a beta of 0.62.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 14th. The food distribution company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Performance Food Group had a net margin of 0.84% and a return on equity of 15.86%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Performance Food Group’s quarterly revenue was up 28.4% compared to the same quarter last year. Analysts forecast that Performance Food Group will post 1.99 EPS for the current year.

In related news, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $46.57, for a total value of $325,990.00. Following the completion of the transaction, the insider now owns 138,406 shares in the company, valued at approximately $6,445,567.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine R. Vlahcevic sold 7,879 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $45.27, for a total transaction of $356,682.33. Following the completion of the transaction, the insider now owns 19,807 shares of the company’s stock, valued at approximately $896,662.89. The disclosure for this sale can be found here. Insiders sold a total of 38,888 shares of company stock valued at $1,736,348 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of PFGC. Tower Research Capital LLC TRC acquired a new position in shares of Performance Food Group in the 2nd quarter valued at $45,000. Meeder Asset Management Inc. acquired a new position in shares of Performance Food Group during the 2nd quarter worth about $54,000. NEXT Financial Group Inc boosted its stake in shares of Performance Food Group by 12.9% during the 2nd quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock worth $85,000 after buying an additional 242 shares during the last quarter. Bailard Inc. acquired a new position in shares of Performance Food Group during the 3rd quarter worth about $202,000. Finally, Convergence Investment Partners LLC acquired a new position in shares of Performance Food Group during the 2nd quarter worth about $185,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

Featured Article: Ex-Dividend

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 1,920 Shares of Verizon Communications Inc.
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 1,920 Shares of Verizon Communications Inc.
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Acquires 2,397 Shares of Chubb Ltd
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Acquires 2,397 Shares of Chubb Ltd
976 Shares in The Coca-Cola Co  Acquired by Fulcrum Equity Management
976 Shares in The Coca-Cola Co Acquired by Fulcrum Equity Management
iShares U.S. Aerospace & Defense ETF  Stake Cut by Griffin Asset Management Inc.
iShares U.S. Aerospace & Defense ETF Stake Cut by Griffin Asset Management Inc.
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 423 Shares of Trade Desk Inc
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 423 Shares of Trade Desk Inc
Griffin Asset Management Inc. Lowers Stake in Alerian MLP ETF
Griffin Asset Management Inc. Lowers Stake in Alerian MLP ETF


 
© 2006-2019 Zolmax.