Performance Food Group (NYSE:PFGC) Expected to Announce Quarterly Sales of $13.11 Billion

Wall Street brokerages expect that Performance Food Group (NYSE:PFGCGet Rating) will post $13.11 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Performance Food Group’s earnings. The highest sales estimate is $13.21 billion and the lowest is $12.99 billion. Performance Food Group reported sales of $7.20 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 82.1%. The firm is expected to report its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Performance Food Group will report full-year sales of $50.65 billion for the current year, with estimates ranging from $50.02 billion to $51.03 billion. For the next fiscal year, analysts anticipate that the company will report sales of $56.20 billion, with estimates ranging from $54.66 billion to $57.59 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Performance Food Group.

Performance Food Group (NYSE:PFGCGet Rating) last released its quarterly earnings data on Wednesday, February 9th. The food distribution company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. Performance Food Group had a net margin of 0.09% and a return on equity of 9.61%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.85 billion. During the same period in the previous year, the company earned $0.35 earnings per share.

A number of brokerages have recently issued reports on PFGC. Morgan Stanley boosted their target price on shares of Performance Food Group from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, February 10th. StockNews.com began coverage on shares of Performance Food Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. CL King began coverage on shares of Performance Food Group in a research report on Friday, March 11th. They issued a “buy” rating and a $60.00 target price for the company. Barclays boosted their target price on shares of Performance Food Group from $57.00 to $65.00 in a research report on Thursday, February 10th. Finally, Zacks Investment Research raised shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, April 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $62.44.

In other news, insider Patrick T. Hagerty sold 500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $7,573,474.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick T. Hagerty sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $52.87, for a total value of $528,700.00. The disclosure for this sale can be found here. Insiders sold 14,983 shares of company stock valued at $781,705 in the last three months. Company insiders own 2.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System increased its stake in shares of Performance Food Group by 0.5% in the first quarter. State of Michigan Retirement System now owns 39,303 shares of the food distribution company’s stock valued at $2,001,000 after buying an additional 203 shares during the period. Private Capital Group LLC increased its stake in shares of Performance Food Group by 61.4% in the first quarter. Private Capital Group LLC now owns 560 shares of the food distribution company’s stock valued at $29,000 after buying an additional 213 shares during the period. FourThought Financial LLC increased its stake in shares of Performance Food Group by 16.6% in the first quarter. FourThought Financial LLC now owns 1,676 shares of the food distribution company’s stock valued at $85,000 after buying an additional 239 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Performance Food Group by 31.2% in the fourth quarter. First Horizon Advisors Inc. now owns 1,031 shares of the food distribution company’s stock valued at $48,000 after buying an additional 245 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Performance Food Group by 1.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 19,624 shares of the food distribution company’s stock valued at $912,000 after buying an additional 278 shares during the period.

NYSE:PFGC opened at $48.65 on Friday. Performance Food Group has a one year low of $38.82 and a one year high of $58.13. The company has a market cap of $7.53 billion, a P/E ratio of 194.60, a P/E/G ratio of 1.30 and a beta of 1.45. The firm’s fifty day moving average price is $50.84 and its two-hundred day moving average price is $47.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.62 and a quick ratio of 0.68.

Performance Food Group Company Profile (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.

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