Performance Food Group (NYSE:PFGC) Issues Quarterly Earnings Results

Performance Food Group (NYSE:PFGC) issued its quarterly earnings data on Wednesday. The food distribution company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07, Bloomberg Earnings reports. Performance Food Group had a net margin of 0.91% and a return on equity of 14.91%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. Performance Food Group updated its FY 2020 guidance to $1.92-2.04 EPS.

Shares of PFGC traded up $1.53 during mid-day trading on Wednesday, hitting $45.33. 6,541 shares of the company traded hands, compared to its average volume of 617,785. Performance Food Group has a one year low of $28.05 and a one year high of $44.62. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.45 and a quick ratio of 0.75. The business has a 50-day simple moving average of $42.31. The stock has a market capitalization of $4.61 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.88 and a beta of 0.66.

PFGC has been the topic of several research analyst reports. BMO Capital Markets increased their price target on shares of Performance Food Group to $48.00 and gave the company a “positive” rating in a research note on Friday, July 12th. Bank of America initiated coverage on shares of Performance Food Group in a research note on Wednesday, April 17th. They set a “buy” rating and a $45.00 price target on the stock. Zacks Investment Research raised shares of Performance Food Group from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Loop Capital set a $48.00 price target on shares of Performance Food Group and gave the company a “buy” rating in a research note on Friday, July 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $41.90.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $40.22, for a total transaction of $281,540.00. Following the sale, the insider now directly owns 148,506 shares of the company’s stock, valued at $5,972,911.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 21,000 shares of company stock worth $861,280 over the last three months. 3.80% of the stock is owned by insiders.

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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Earnings History for Performance Food Group (NYSE:PFGC)

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