Performance Food Group to Post FY2022 Earnings of $2.60 Per Share, Jefferies Financial Group Forecasts (NYSE:PFGC)

Performance Food Group (NYSE:PFGC – Get Rating) – Jefferies Financial Group boosted their FY2022 earnings per share estimates for Performance Food Group in a report issued on Thursday, June 16th. Jefferies Financial Group analyst A. Slagle now forecasts that the food distribution company will post earnings of $2.60 per share for the year, up from their prior forecast of $2.55. The consensus estimate for Performance Food Group’s current full-year earnings is $2.57 per share. Jefferies Financial Group also issued estimates for Performance Food Group’s Q4 2022 earnings at $1.06 EPS.

Performance Food Group (NYSE:PFGC – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The food distribution company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Performance Food Group had a return on equity of 10.51% and a net margin of 0.15%. During the same period in the prior year, the company earned $0.19 EPS.

PFGC has been the subject of several other research reports. Berenberg Bank started coverage on Performance Food Group in a research report on Wednesday, May 18th. They issued a “buy” rating and a $71.00 target price for the company. CL King assumed coverage on Performance Food Group in a report on Friday, March 11th. They set a “buy” rating and a $60.00 target price on the stock. StockNews.com assumed coverage on Performance Food Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on Performance Food Group from $62.00 to $58.00 in a report on Friday, May 13th. Finally, Barclays dropped their price target on Performance Food Group from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Performance Food Group has an average rating of “Buy” and an average target price of $62.56.

Shares of NYSE:PFGC opened at $41.27 on Monday. The firm has a market capitalization of $6.39 billion, a PE ratio of 89.72, a P/E/G ratio of 1.07 and a beta of 1.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.59 and a quick ratio of 0.71. The business has a 50-day moving average of $45.96 and a two-hundred day moving average of $47.34. Performance Food Group has a 12 month low of $38.23 and a 12 month high of $58.13.

Hedge funds have recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its stake in shares of Performance Food Group by 34.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 22,668 shares of the food distribution company’s stock worth $1,040,000 after buying an additional 5,819 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Performance Food Group by 294.2% in the 4th quarter. New York State Teachers Retirement System now owns 58,525 shares of the food distribution company’s stock valued at $2,686,000 after acquiring an additional 43,678 shares during the period. Bank of America Corp DE raised its holdings in Performance Food Group by 17.1% in the 4th quarter. Bank of America Corp DE now owns 679,704 shares of the food distribution company’s stock valued at $31,192,000 after acquiring an additional 99,137 shares during the period. Eaton Vance Management raised its holdings in Performance Food Group by 20.4% in the 4th quarter. Eaton Vance Management now owns 2,508,303 shares of the food distribution company’s stock valued at $115,086,000 after acquiring an additional 425,029 shares during the period. Finally, Aquila Investment Management LLC bought a new position in shares of Performance Food Group during the fourth quarter worth approximately $1,606,000.

In related news, insider Patrick T. Hagerty sold 500 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $51.06, for a total value of $25,530.00. Following the completion of the transaction, the insider now owns 148,325 shares in the company, valued at approximately $7,573,474.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,500 shares of company stock worth $71,965 over the last three months. 2.60% of the stock is owned by company insiders.

About Performance Food Group (Get Rating)

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through two segments, Foodservice and Vistar. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products, as well as beef, pork, poultry, and seafood.

Further Reading

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