Pivotal Research reiterated their hold rating on shares of Performance Food Group (NYSE:PFGC) in a research note issued to investors on Thursday morning. They currently have a $31.00 price objective on the restaurant operator’s stock.

“We believe the continued focus on independents is increasingly coming at a cost as all of the big three distributors are investing in their sales force. We’ve updated our model and while our revised FY19 EPS est. of $1.70 is below the preliminary guidance range of $1.72-$1.82, the change in our FY19 EBITDA est. isn’t as material based on the updated D&A guidance provided by mgt. At a target multiple of 9-10x EV/EBITDA, the implied valuation range is $28-$33/share. Based on the mid-point of the range, our $31 PT is unchanged.”,” Pivotal Research’s analyst wrote.

Several other research analysts have also issued reports on the company. BMO Capital Markets dropped their target price on Performance Food Group from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday. Loop Capital restated a buy rating and set a $42.00 target price on shares of Performance Food Group in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of Performance Food Group from $32.00 to $33.00 and gave the company a sector perform rating in a research note on Friday, August 10th. Guggenheim reaffirmed a buy rating and set a $43.00 price target on shares of Performance Food Group in a research note on Friday, July 20th. Finally, Zacks Investment Research raised shares of Performance Food Group from a hold rating to a buy rating and set a $43.00 price target for the company in a research note on Friday, July 20th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Performance Food Group presently has a consensus rating of Buy and an average target price of $38.50.

Shares of NYSE:PFGC traded up $0.10 during trading hours on Thursday, hitting $33.85. 27,712 shares of the company’s stock traded hands, compared to its average volume of 663,952. Performance Food Group has a 1 year low of $26.10 and a 1 year high of $39.45. The firm has a market capitalization of $3.81 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 0.95 and a beta of 0.28. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.51 and a quick ratio of 0.78.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 15th. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.07). Performance Food Group had a net margin of 1.00% and a return on equity of 15.76%. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the firm earned $0.48 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts expect that Performance Food Group will post 1.6 EPS for the current fiscal year.

In other news, insider Carol A. O’connell sold 6,939 shares of Performance Food Group stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $36.77, for a total transaction of $255,147.03. Following the completion of the sale, the insider now owns 50,474 shares of the company’s stock, valued at $1,855,928.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick T. Hagerty sold 29,305 shares of Performance Food Group stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $35.35, for a total transaction of $1,035,931.75. Following the sale, the insider now directly owns 167,837 shares of the company’s stock, valued at approximately $5,933,037.95. The disclosure for this sale can be found here. Insiders have sold 103,820 shares of company stock valued at $3,738,453 in the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Performance Food Group by 1.3% in the first quarter. BlackRock Inc. now owns 9,955,362 shares of the restaurant operator’s stock worth $297,168,000 after buying an additional 123,615 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Performance Food Group by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 7,401,470 shares of the restaurant operator’s stock worth $220,934,000 after buying an additional 136,657 shares in the last quarter. Victory Capital Management Inc. raised its stake in Performance Food Group by 4.5% in the second quarter. Victory Capital Management Inc. now owns 4,373,166 shares of the restaurant operator’s stock worth $160,495,000 after buying an additional 186,801 shares in the last quarter. Jennison Associates LLC raised its stake in Performance Food Group by 0.8% in the second quarter. Jennison Associates LLC now owns 2,529,294 shares of the restaurant operator’s stock worth $92,825,000 after buying an additional 20,739 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in 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 buying an additional 168,076 shares in the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

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, such as 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 seafood products, shortenings and oils, baked goods, and salad dressings.

See Also: Short Selling Stocks and Day Traders

Analyst Recommendations for Performance Food Group (NYSE:PFGC)

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.