Performance Food Group (NYSE:PFGC) Downgraded by Zacks Investment Research

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

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. “

Several other equities research analysts also recently issued reports on PFGC. Loop Capital set a $48.00 price target on Performance Food Group and gave the stock a buy rating in a report on Friday, July 5th. Bank of America reiterated a buy rating and set a C$10.00 price target on shares of Hexo in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $41.64.

NYSE PFGC opened at $43.21 on Wednesday. The company has a market capitalization of $4.55 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 1.87 and a beta of 0.66. Performance Food Group has a 52 week low of $28.05 and a 52 week high of $43.78. The firm’s 50 day moving average price is $40.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 1.45.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.67 billion. Performance Food Group had a net margin of 0.91% and a return on equity of 14.91%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, equities analysts expect that Performance Food Group will post 1.78 EPS for the current year.

In other Performance Food Group news, insider Patrick T. Hagerty sold 7,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $38.99, for a total value of $272,930.00. Following the completion of the transaction, the insider now owns 155,006 shares in the company, valued at approximately $6,043,683.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick T. Hagerty sold 7,450 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $40.85, for a total value of $304,332.50. Following the completion of the transaction, the insider now owns 169,006 shares of the company’s stock, valued at approximately $6,903,895.10. The disclosure for this sale can be found here. Insiders sold a total of 21,450 shares of company stock valued at $858,803 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Performance Food Group during the 4th quarter valued at $37,271,000. FMR LLC lifted its position in shares of Performance Food Group by 12.2% during the 4th quarter. FMR LLC now owns 8,899,049 shares of the food distribution company’s stock valued at $287,173,000 after buying an additional 966,672 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Performance Food Group by 29.1% during the 1st quarter. Jennison Associates LLC now owns 2,984,830 shares of the food distribution company’s stock valued at $118,319,000 after buying an additional 673,089 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Performance Food Group during the 1st quarter valued at $22,413,000. Finally, Federated Investors Inc. PA lifted its position in shares of Performance Food Group by 389.8% during the 1st quarter. Federated Investors Inc. PA now owns 555,693 shares of the food distribution company’s stock valued at $22,028,000 after buying an additional 442,250 shares during the last quarter. Hedge funds and other institutional investors own 95.71% 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.

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