March 28, 2024

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Performance Food Group (NYSE:PFGC) to Post Q4 2021 Earnings of $0.41 Per Share, Jefferies Financial Group Forecasts

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Performance Food Group (NYSE:PFGC) – Research analysts at Jefferies Financial Group dropped their Q4 2021 earnings per share (EPS) estimates for Performance Food Group in a research report issued on Tuesday, January 5th. Jefferies Financial Group analyst A. Slagle now expects that the food distribution company will post earnings per share of $0.41 for the quarter, down from their prior forecast of $0.42. Jefferies Financial Group also issued estimates for Performance Food Group’s Q3 2022 earnings at $0.60 EPS, Q4 2022 earnings at $0.62 EPS and FY2022 earnings at $2.05 EPS.

PFGC has been the topic of several other research reports. Zacks Investment Research downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets upgraded Performance Food Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $52.00 in a research report on Tuesday, November 10th. ValuEngine raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, December 22nd. Barclays raised shares of Performance Food Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $46.00 to $60.00 in a report on Wednesday. Finally, BTIG Research upped their price target on shares of Performance Food Group from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Performance Food Group presently has a consensus rating of “Buy” and a consensus target price of $46.73.

NYSE:PFGC opened at $47.99 on Friday. The company has a market cap of $6.41 billion, a P/E ratio of -59.25 and a beta of 1.42. The stock’s fifty day moving average price is $46.46 and its two-hundred day moving average price is $37.05. Performance Food Group has a 1 year low of $7.41 and a 1 year high of $54.49. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.32 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, November 4th. The food distribution company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.09. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7 billion. Performance Food Group had a positive return on equity of 4.42% and a negative net margin of 0.45%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share.

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Performance Food Group by 12.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,811 shares of the food distribution company’s stock valued at $199,000 after buying an additional 777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Performance Food Group by 6.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,784 shares of the food distribution company’s stock valued at $512,000 after buying an additional 959 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Performance Food Group by 10.2% during the third quarter. Great West Life Assurance Co. Can now owns 14,174 shares of the food distribution company’s stock valued at $490,000 after buying an additional 1,309 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of Performance Food Group by 11.6% during the third quarter. Virginia Retirement Systems ET AL now owns 13,500 shares of the food distribution company’s stock valued at $467,000 after buying an additional 1,400 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Performance Food Group by 1.7% during the third quarter. Raymond James & Associates now owns 83,447 shares of the food distribution company’s stock valued at $2,889,000 after buying an additional 1,409 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Christine R. Vlahcevic sold 3,882 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $46.77, for a total value of $181,561.14. Following the transaction, the insider now owns 26,640 shares of the company’s stock, valued at $1,245,952.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Grant sold 5,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $46.62, for a total value of $233,100.00. Following the completion of the transaction, the director now directly owns 8,451 shares in the company, valued at approximately $393,985.62. The disclosure for this sale can be found here. In the last three months, insiders sold 82,363 shares of company stock worth $3,292,114. 2.90% 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 two segments, Foodservice 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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