Performance Food Group (PFGC) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Performance Food Group (NYSE:PFGC) released its quarterly earnings data on Wednesday. The restaurant operator reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05, MarketWatch Earnings reports. Performance Food Group had a net margin of 1.13% and a return on equity of 15.58%. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Performance Food Group updated its FY19 guidance to $1.72 to $1.82 EPS and its FY 2019 guidance to $1.69-1.79 EPS.

PFGC stock traded down $0.19 during midday trading on Friday, reaching $32.39. 132,800 shares of the company’s stock traded hands, compared to its average volume of 809,866. Performance Food Group has a 52-week low of $27.35 and a 52-week high of $39.45. The stock has a market cap of $3.14 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.99 and a beta of 0.54. The company has a current ratio of 1.50, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

In other Performance Food Group news, insider Carol A. O’connell sold 4,505 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $34.00, for a total value of $153,170.00. Following the completion of the transaction, the insider now directly owns 20,891 shares in the company, valued at $710,294. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider George L. Holm sold 22,672 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $33.08, for a total transaction of $749,989.76. Following the completion of the transaction, the insider now owns 1,757,975 shares of the company’s stock, valued at $58,153,813. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,294 shares of company stock valued at $2,263,070. Company insiders own 3.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Performance Food Group by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,908,499 shares of the restaurant operator’s stock worth $70,044,000 after purchasing an additional 168,076 shares during the period. NumerixS Investment Technologies Inc boosted its position in shares of Performance Food Group by 57.5% in the second quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the restaurant operator’s stock worth $234,000 after purchasing an additional 2,300 shares during the period. Sterling Capital Management LLC bought a new position in shares of Performance Food Group in the second quarter worth approximately $24,545,000. WINTON GROUP Ltd bought a new position in shares of Performance Food Group in the second quarter worth approximately $219,000. Finally, Commonwealth Bank of Australia bought a new position in shares of Performance Food Group during the second quarter worth $885,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

Several research analysts have recently weighed in on PFGC shares. Wells Fargo & Co boosted their price objective on shares of Performance Food Group from $40.00 to $46.00 and gave the company a “$38.15” rating in a report on Wednesday, July 18th. Loop Capital upped their target price on shares of Performance Food Group to $47.00 and gave the company a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research raised shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, July 20th. Guggenheim reaffirmed a “buy” rating and set a $43.00 target price on shares of Performance Food Group in a report on Friday, July 20th. Finally, Royal Bank of Canada upped their target price on shares of Performance Food Group from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.45.

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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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