Performance Food Group (NYSE:PFGC) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $1.69-1.79 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.77.
Several research firms recently commented on PFGC. ValuEngine raised shares of Performance Food Group from a hold rating to a buy rating in a research report on Wednesday, October 24th. Citigroup initiated coverage on shares of Performance Food Group in a research note on Friday, December 21st. They issued a buy rating and a $40.00 price target on the stock. Wells Fargo & Co reiterated a buy rating on shares of Performance Food Group in a research note on Friday, January 11th. Buckingham Research initiated coverage on shares of Performance Food Group in a research note on Monday, October 22nd. They issued a buy rating and a $39.00 price target on the stock. Finally, Pivotal Research reiterated a hold rating and issued a $31.00 price target on shares of Performance Food Group in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $38.58.
Performance Food Group stock opened at $35.36 on Wednesday. The stock has a market cap of $3.69 billion, a PE ratio of 22.96, a PEG ratio of 1.14 and a beta of 0.65. Performance Food Group has a fifty-two week low of $28.05 and a fifty-two week high of $39.45. The company has a current ratio of 1.53, a quick ratio of 0.78 and a debt-to-equity ratio of 1.05.
Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, February 6th. The food distribution company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.50 billion. Performance Food Group had a net margin of 1.15% and a return on equity of 15.52%. Performance Food Group’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. Research analysts expect that Performance Food Group will post 1.76 EPS for the current fiscal year.
Performance Food Group declared that its board has authorized a stock repurchase program on Wednesday, November 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the food distribution company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Terry A. West sold 20,372 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $33.21, for a total value of $676,554.12. Following the transaction, the insider now owns 24,872 shares in the company, valued at approximately $825,999.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Carol A. O’connell sold 2,197 shares of the company’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $34.00, for a total transaction of $74,698.00. Following the completion of the transaction, the insider now owns 22,101 shares in the company, valued at approximately $751,434. The disclosure for this sale can be found here. Insiders have sold a total of 128,194 shares of company stock worth $4,400,320 over the last 90 days. 3.80% of the stock is owned by company insiders.
TRADEMARK VIOLATION NOTICE: This news story was reported by Equities Focus and is the property of of Equities Focus. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.equitiesfocus.com/2019/02/06/performance-food-group-pfgc-issues-fy-2019-earnings-guidance.html.
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.
Read More: Capital Gains
Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.