Performance Food Group (NYSE:PFGC) Issues FY 2020 Earnings Guidance

Performance Food Group (NYSE:PFGC) updated its FY 2020 earnings guidance on Wednesday. The company provided EPS guidance of $1.92-2.04 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.78.

Several research firms have issued reports on PFGC. BMO Capital Markets lifted their price target on shares of Performance Food Group to $52.00 and gave the stock an outperform rating in a report on Thursday. Guggenheim reaffirmed a buy rating and issued a $50.00 price target (up from $46.00) on shares of Performance Food Group in a report on Thursday. ValuEngine raised shares of Performance Food Group from a hold rating to a buy rating in a report on Thursday. Loop Capital lifted their price target on shares of Performance Food Group to $50.00 and gave the stock a buy rating in a report on Thursday. Finally, Buckingham Research lifted their price target on shares of Performance Food Group from $47.00 to $53.00 and gave the stock a buy rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $45.40.

Shares of PFGC opened at $45.60 on Friday. The firm has a market capitalization of $4.79 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.97 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.45 and a quick ratio of 0.75. Performance Food Group has a 1-year low of $28.05 and a 1-year high of $46.65. The company’s fifty day moving average price is $42.64 and its 200-day moving average price is $40.13.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.56 billion. Performance Food Group had a net margin of 0.84% and a return on equity of 16.18%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, research analysts anticipate that Performance Food Group will post 1.98 EPS for the current fiscal year.

In other news, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 21,000 shares of company stock worth $861,280 over the last three months. Corporate insiders own 3.80% 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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Earnings History and Estimates for Performance Food Group (NYSE:PFGC)

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