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

Performance Food Group (NYSE:PFGC) posted its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02), MarketWatch Earnings reports. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Performance Food Group had a return on equity of 14.91% and a net margin of 0.91%. Performance Food Group’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. Performance Food Group updated its FY 2019 guidance to $1.73-1.79 EPS.

Shares of NYSE:PFGC traded down $0.20 during mid-day trading on Friday, reaching $39.35. 1,249,600 shares of the company traded hands, compared to its average volume of 630,681. The company has a market cap of $4.16 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.91 and a beta of 0.70. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.95. Performance Food Group has a 52 week low of $28.05 and a 52 week high of $41.85.

In related news, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $39.71, for a total transaction of $277,970.00. Following the completion of the transaction, the insider now directly owns 169,456 shares in the company, valued at approximately $6,729,097.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick T. Hagerty sold 7,450 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 169,006 shares of the company’s stock, valued at $6,903,895.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,159 shares of company stock valued at $1,009,163. 3.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 purchasing an additional 300 shares in the last quarter. 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 purchasing an additional 303 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Performance Food Group by 5.6% in the 1st quarter. Quantinno Capital Management LP now owns 8,044 shares of the food distribution company’s stock worth $319,000 after purchasing an additional 424 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Performance Food Group by 8.2% in the 4th quarter. Brown Advisory Inc. now owns 7,237 shares of the food distribution company’s stock worth $234,000 after purchasing an additional 546 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Performance Food Group by 9.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,872 shares of the food distribution company’s stock worth $222,000 after purchasing an additional 576 shares in the last quarter. 95.73% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. ValuEngine raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. Bank of America began coverage on Performance Food Group in a research report on Wednesday, April 17th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Pivotal Research restated a “hold” rating and set a $37.00 price target on shares of Performance Food Group in a research note on Thursday, February 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Performance Food Group has a consensus rating of “Buy” and an average target price of $40.00.

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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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