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

Performance Food Group (NYSE:PFGCGet 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:PFGCGet 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

Earnings History and Estimates for Performance Food Group (NYSE:PFGC)

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