Performance Food Group (NYSE:PFGC) Announces Quarterly Earnings Results

Performance Food Group (NYSE:PFGC - Get Free Report) announced its quarterly earnings results on Wednesday. The food distribution company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03), Briefing.com reports. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same quarter last year, the company posted $0.83 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. Performance Food Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Performance Food Group Trading Up 2.6 %

Shares of PFGC traded up $1.81 during mid-day trading on Thursday, reaching $70.99. 1,453,843 shares of the company were exchanged, compared to its average volume of 985,560. The business has a 50 day simple moving average of $72.57 and a two-hundred day simple moving average of $69.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. The stock has a market capitalization of $11.05 billion, a PE ratio of 25.72, a PEG ratio of 0.95 and a beta of 1.40. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54.

Wall Street Analyst Weigh In

PFGC has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, February 8th. StockNews.com upgraded Performance Food Group from a "hold" rating to a "buy" rating in a research note on Thursday, February 8th. Stephens boosted their price target on Performance Food Group from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Morgan Stanley lifted their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, April 12th. Finally, Barclays lowered their price target on shares of Performance Food Group from $86.00 to $84.00 and set an "overweight" rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $81.00.

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 through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.