Performance Food Group (PFGC) Issues FY19 Earnings Guidance

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Performance Food Group (NYSE:PFGC) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.72 to $1.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.74. Performance Food Group also updated its FY 2019 guidance to $1.69-1.79 EPS.

Shares of Performance Food Group stock opened at $29.84 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 0.78. Performance Food Group has a 1-year low of $26.35 and a 1-year high of $39.45. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 15th. The restaurant operator reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.07). Performance Food Group had a return on equity of 15.58% and a net margin of 1.13%. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Performance Food Group will post 1.73 earnings per share for the current year.

Several analysts have recently commented on the company. Guggenheim restated a buy rating and issued a $43.00 target price on shares of Performance Food Group in a research note on Friday, July 20th. Zacks Investment Research upgraded Performance Food Group from a hold rating to a buy rating and set a $43.00 target price for the company in a research note on Friday, July 20th. Loop Capital raised their target price on Performance Food Group to $47.00 and gave the company a buy rating in a research note on Thursday, July 19th. Wells Fargo & Co raised their target price on Performance Food Group from $40.00 to $46.00 and gave the company a $38.15 rating in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada raised their target price on 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $38.45.

In other news, insider Carol A. O’connell sold 6,939 shares of the firm’s 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 in the company, valued at approximately $1,855,928.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 4,450 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $33.63, for a total transaction of $149,653.50. Following the sale, the insider now owns 125,526 shares of the company’s stock, valued at approximately $4,221,439.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,233 shares of company stock worth $2,518,217. Insiders own 3.80% of the company’s stock.

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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, 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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