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

Shares of Performance Food Group stock opened at $43.21 on Wednesday. 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 company has a market cap of $4.55 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.87 and a beta of 0.66. The firm’s 50-day moving average price is $40.30. Performance Food Group has a 12 month low of $28.05 and a 12 month high of $43.78.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.35 EPS for the quarter, missing the 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%. Performance Food Group’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. On average, analysts expect that Performance Food Group will post 1.78 EPS for the current year.

In related news, insider Patrick T. Hagerty sold 7,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.85, for a total transaction of $304,332.50. Following the transaction, the insider now directly owns 169,006 shares in the company, valued at approximately $6,903,895.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Patrick T. Hagerty sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $40.22, for a total value of $281,540.00. Following the transaction, the insider now owns 148,506 shares in the company, valued at $5,972,911.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,450 shares of company stock worth $858,803. 3.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PFGC. Nisa Investment Advisors LLC lifted its holdings in Performance Food Group by 75.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the food distribution company’s stock worth $28,000 after buying an additional 300 shares during the period. Advisor Group Inc. lifted its holdings in Performance Food Group by 19.8% in the 4th quarter. Advisor Group Inc. now owns 1,834 shares of the food distribution company’s stock worth $59,000 after buying an additional 303 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Performance Food Group by 55.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,956 shares of the food distribution company’s stock worth $128,000 after buying an additional 1,415 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Performance Food Group in the 1st quarter worth approximately $211,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Performance Food Group in the 1st quarter worth approximately $216,000. Institutional investors and hedge funds own 95.71% of the company’s stock.

Performance Food Group Company Profile

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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