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. It also sells disposables, cleaning and kitchen supplies, and related products. In addition, the company offers value-added services, such as product selection and procurement, menu development, and operational strategy. It serves independent and chain restaurants, schools, business and industry locations, hospitals, vending distributors, office coffee service distributors, retailers, theaters, convenience stores, theaters, hospitality providers, concessionaires, airport gift shops, and college book stores, as well as franchises and other institutional customers. The company markets and distributes approximately 250,000 food and food-related products from 107 distribution centers to approximately 250,000 customer locations. Performance Food Group Company was founded in 1885 and is headquartered in Richmond, Virginia.
IPO Year: 2015
Exchange: NYSE
Website: pfgc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/28/2024 | $92.00 | Equal-Weight | Morgan Stanley |
| 11/21/2023 | $72.00 | Overweight | Piper Sandler |
| 10/19/2023 | $80.00 | Buy | Deutsche Bank |
| 6/20/2023 | $74.00 → $66.00 | Overweight → Equal-Weight | Morgan Stanley |
| 9/23/2022 | $60.00 | Overweight | Stephens |
| 5/18/2022 | $71.00 | Buy | Berenberg |
| 3/18/2022 | $62.00 | Buy | Deutsche Bank |
| 3/11/2022 | $60.00 | Buy | CL King |
| 2/10/2022 | $62.00 → $65.00 | Overweight | Morgan Stanley |
| 2/1/2022 | $61.00 | Buy | Truist |
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Strong Net Sales and Independent Restaurant Case Volume Growth First-Quarter Fiscal 2025 Highlights Total case volume increased 2.6% Total Independent Foodservice case volume increased 7.8% Organic Independent Foodservice case volume increased 4.3% Net sales increased 3.2% to $15.4 billion Gross profit improved 6.1% to $1.8 billion Net income decreased 10.5% to $108.0 million Adjusted EBITDA increased 7.3% to $411.9 million1 Diluted Earnings Per Share ("EPS") decreased 10.4% to $0.69 Adjusted Diluted EPS increased 0.9% to $1.161 Operating Cash Flow of $53.5 million Performance Food Group Company ("PFG" or the "Company") (NYSE:PFGC) today announced its first-quarter fi
Performance Food Group Company (PFG) (NYSE:PFGC) today announced that it has completed the acquisition of Cheney Bros., Inc. ("Cheney Brothers"), a leading independent broadline foodservice distributor based in Riviera Beach, Florida. The acquisition creates a stronger presence in the Southeast region and provides additional distribution capacity. Cheney Brothers generates approximately $3.2 billion in annual revenue. The company has approximately 3,600 employees and operates five distribution centers in Florida and North Carolina. PFG continues to expect to generate approximately $50 million of annual run-rate cost synergies in the third full fiscal year following the closing of the transa
Performance Food Group Company ("PFG") (NYSE:PFGC) announced today that its indirect wholly-owned subsidiary, Performance Food Group, Inc. (the "Issuer"), priced its previously announced offering of $1.0 billion aggregate principal amount of 6.125% Senior Notes due 2032 (the "notes"). PFG anticipates that the consummation of the offering will occur on September 12, 2024, subject to customary closing conditions. PFG intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to finance the cash consideration payable in connection with PFG's previously announced proposed acquisition of Cheney Bros, Inc. (the "Cheney Brothers Acquisition") a
Performance Food Group Company ("PFG") (NYSE:PFGC) announced today that its indirect wholly-owned subsidiary, Performance Food Group, Inc. (the "Issuer"), intends, subject to market and other conditions, to offer $1.0 billion aggregate principal amount of Senior Notes due 2032 (the "notes"). PFG intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to finance the cash consideration payable in connection with PFG's previously announced proposed acquisition of Cheney Bros, Inc. (the "Cheney Brothers Acquisition") and to pay related fees and expenses. Pending such uses, the net proceeds may be temporarily used for general corporate pur
Double Digit Net Income & Earnings Per Share Growth; Strong Full Year Cash Flow Fourth-Quarter Fiscal 2024 Highlights Total case volume increased 1.1% Organic Independent Foodservice case volume increased 3.7% Net sales increased 2.2% to $15.2 billion Gross profit improved 4.7% to $1.7 billion Net income increased 10.9% to $166.5 million Adjusted EBITDA increased 18.4% to $456.2 million1 Diluted Earnings Per Share ("EPS") increased 11.5% to $1.07 Adjusted Diluted EPS increased 27.2% to $1.451 Full-Year Fiscal 2024 Highlights Total case volume grew 1.6% Organic Independent Foodservice case volume increased 6.0% Net sales increased 1.8% to $58.3 billion
Solid Independent Foodservice Case Growth & Strong Cash Flow Generation Third-Quarter Fiscal 2024 Highlights Total case volume decreased 0.2% Organic Independent Foodservice case volume increased 4.3% Net sales increased 0.6% to $13.9 billion Gross profit improved 3.8% to $1.6 billion Net income decreased 12.3% to $70.4 million Adjusted EBITDA increased 1.9% to $320.7 million1 Diluted Earnings Per Share ("EPS") decreased 11.8% to $0.45 Adjusted Diluted EPS decreased 3.6% to $0.801 First-Nine Months Fiscal 2024 Highlights Total case volume grew 1.7% Organic Independent Foodservice case volume increased 6.9% Net sales increased 1.7% to $43.1 billion Gr
Strong Independent Restaurant Case Growth & Solid Cash Flow Generation; Reiterates Fiscal 2024 Outlook Second-Quarter Fiscal 2024 Highlights Total case volume grew 2.1% Net sales increased 2.9% to $14.3 billion Gross profit improved 6.6% to $1.6 billion Net income increased 10.1% to $78.3 million Adjusted EBITDA increased 11.9% to $345.4 million1 Diluted Earnings Per Share ("EPS") increased 8.7% to $0.50 Adjusted Diluted EPS increased 8.4% to $0.901 First-Half Fiscal 2024 Highlights Total case volume grew 2.4% Net sales increased 2.2% to $29.2 billion Gross profit improved 6.1% to $3.3 billion Net income increased 19.3% to $199.0 million Adjusted EBI
Strong Independent Case Growth Drives Solid Profit Results; 1Q24 Adjusted EBITDA Exceeds Previously Announced Guidance Range First-Quarter Fiscal 2024 Highlights Total case volume grew 2.6% Net sales increased 1.5% to $14.9 billion Gross profit improved 5.6% to $1.7 billion Net income increased 26.1% to $120.7 million Adjusted EBITDA increased 8.2% to $383.8 million1 Diluted Earnings Per Share ("EPS") increased 24.2% to $0.77 Adjusted Diluted EPS increased 6.5% to $1.151 Operating Cash Flow of $87.1 million Free cash flow of $33.9 million1 Performance Food Group Company ("PFG" or the "Company") (NYSE:PFGC) today announced its first-quarter fiscal 2024 busines
Strong Independent Organic Case Growth, Double Digit Gross Profit Growth and Strong Cash Flow; Announces Fiscal 2024 Outlook Fourth-Quarter Fiscal 2023 Highlights Total case volume grew 2% Net sales increased 2% to $14.9 billion Gross profit improved 12% to $1.7 billion Net income increased to $150.1 million Adjusted EBITDA increased 8% to $385.2 million1 Diluted Earnings Per Share ("EPS") increased to $0.96 Adjusted Diluted EPS increased 7% to $1.141 Full-Year Fiscal 2023 Highlights Total case volume grew 6% Net sales increased 13% to $57.3 billion Gross profit improved 19% to $6.3 billion Net income increased to $397.2 million Adjusted EBITDA incre
Total and Independent Organic Case Growth Accelerates, Double Digit Profit Growth and Strong Cash Flow; Raises and Tightens Fiscal 2023 Adjusted EBITDA Outlook Range Third-Quarter Fiscal 2023 Highlights Total case volume grew 3% Net sales increased 5% to $13.8 billion Gross profit improved 12% to $1.5 billion Net income increased to $80.3 million Adjusted EBITDA increased 32% to $314.7 million1 Diluted Earnings Per Share ("EPS") increased to $0.51 Adjusted Diluted EPS increased 63% to $0.831 First-Nine Months Fiscal 2023 Highlights Total case volume grew 7% Net sales increased 17% to $42.4 billion Gross profit improved 22% to $4.6 billion Net income inc
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Performance Food Group Company (PFG) (NYSE:PFGC) today announced that George Holm, PFG Chairman & Chief Executive Officer, and Patrick Hatcher, Executive Vice President & Chief Financial Officer will participate in the Barclays 10th Annual Eat, Sleep, Play, Shop Conference. PFG will webcast its fireside chat live on Thursday, December 5, 2024, at 11:15 a.m. ET. The live webcast will be available in listen-only mode on investors.pfgc.com. An archived replay of the webcast will be available later that same day. About Performance Food Group Company Performance Food Group is an industry leader and one of the largest food and foodservice distribution companies in North America with more th
Performance Food Group migrates 100 percent of its fleet management business to Trimble Instinct, doubling Trimble-serviced trucks WESTMINSTER, Colo., Nov. 21, 2024 /PRNewswire/ -- Trimble® (NASDAQ:TRMB) announced today that Performance Food Group Company (PFG) (NYSE:PFGC), one of North America's largest food and foodservice distribution companies, has selected Trimble, as its premier fleet management provider — servicing 100 percent of PFG's fleet business and doubling the number of trucks managed with Trimble in-cab technology from 4,000 to more than 8,000. Trimble will pro
Performance Food Group Company (PFG) (NYSE:PFGC) today announced the launch of its latest product under its FarmSmart® brand – the Beef & Jackfruit Burger. This innovative blend combines the richness of premium beef with the clean, meat-like qualities of jackfruit, supplied by The Jackfruit Company, the leading plant-based meat alternative brand. The new product offers consumers a delicious way to enjoy the taste of meat while improving nutrition and reducing their environmental footprint. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241119576098/en/Performance Food Group's FarmSmart brand Beef & Jackfruit Burger. This innovat
Strong Net Sales and Independent Restaurant Case Volume Growth First-Quarter Fiscal 2025 Highlights Total case volume increased 2.6% Total Independent Foodservice case volume increased 7.8% Organic Independent Foodservice case volume increased 4.3% Net sales increased 3.2% to $15.4 billion Gross profit improved 6.1% to $1.8 billion Net income decreased 10.5% to $108.0 million Adjusted EBITDA increased 7.3% to $411.9 million1 Diluted Earnings Per Share ("EPS") decreased 10.4% to $0.69 Adjusted Diluted EPS increased 0.9% to $1.161 Operating Cash Flow of $53.5 million Performance Food Group Company ("PFG" or the "Company") (NYSE:PFGC) today announced its first-quarter fi
Performance Food Group Company (PFG) (NYSE:PFGC) will host a live audio webcast at 9 a.m. ET Wednesday, Nov. 6, 2024, to discuss first-quarter fiscal 2025 financial results. PFG will issue a news release with those results at approximately 7 a.m. ET that same day. George Holm, PFG Chairman & Chief Executive Officer, and Patrick Hatcher, Executive Vice President & Chief Financial Officer, will discuss the company's first-quarter fiscal 2025 results and answer questions from the investment community and news media. The webcast will be available in listen-only mode at investors.pfgc.com. Pre-event registration is necessary. An archived copy of the webcast will be available later that same da
Performance Food Group Company (PFG) (NYSE:PFGC) has recently launched its third Associate Resource Group (ARG), called ¡Unidos!, as part of its inclusion, diversity and belonging initiatives. The purpose of ¡Unidos! is to foster inclusion across PFG, while cultivating a thriving community and empowering Hispanic associates to become future leaders. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241015423263/en/PFG's ¡Unidos! Associate Resource Group logo. ¡Unidos!, which translates to "united," is led by co-chairs Sandy Acosta, Category Manager, Performance Foodservice, and Jorge Parra, President, Core-Mark – Los Angeles. Patri
Performance Food Group Company (PFG) (NYSE:PFGC) today announced that it has completed the acquisition of Cheney Bros., Inc. ("Cheney Brothers"), a leading independent broadline foodservice distributor based in Riviera Beach, Florida. The acquisition creates a stronger presence in the Southeast region and provides additional distribution capacity. Cheney Brothers generates approximately $3.2 billion in annual revenue. The company has approximately 3,600 employees and operates five distribution centers in Florida and North Carolina. PFG continues to expect to generate approximately $50 million of annual run-rate cost synergies in the third full fiscal year following the closing of the transa
PFG inductees have more than 830 combined years of safe and reliable driving experience Twenty-eight of Performance Food Group Company's (PFG) (NYSE:PFGC) truck drivers have been honored for their outstanding records of service and safety by being inducted into the 2024 International Foodservice Distributors Association (IFDA) Truck Driver Hall of Fame. IFDA's hall of fame program recognizes the top drivers in the foodservice industry. "Our delivery drivers are the heartbeat of our company and exemplify the values of hard work, reliability and excellence," said Jeff Williamson, senior vice president, Operations at PFG. "Their tireless service ensures we consistently meet the needs of our
Performance Food Group Company ("PFG") (NYSE:PFGC) announced today that its indirect wholly-owned subsidiary, Performance Food Group, Inc. (the "Issuer"), priced its previously announced offering of $1.0 billion aggregate principal amount of 6.125% Senior Notes due 2032 (the "notes"). PFG anticipates that the consummation of the offering will occur on September 12, 2024, subject to customary closing conditions. PFG intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to finance the cash consideration payable in connection with PFG's previously announced proposed acquisition of Cheney Bros, Inc. (the "Cheney Brothers Acquisition") a
Performance Food Group Company ("PFG") (NYSE:PFGC) announced today that its indirect wholly-owned subsidiary, Performance Food Group, Inc. (the "Issuer"), intends, subject to market and other conditions, to offer $1.0 billion aggregate principal amount of Senior Notes due 2032 (the "notes"). PFG intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to finance the cash consideration payable in connection with PFG's previously announced proposed acquisition of Cheney Bros, Inc. (the "Cheney Brothers Acquisition") and to pay related fees and expenses. Pending such uses, the net proceeds may be temporarily used for general corporate pur
Performance Food Group Company (PFG) (NYSE:PFGC) today announced it has appointed Danielle M. Brown to serve as an independent director on its Board of Directors, effective June 28, 2024. This appointment expands PFG's Board to 12 directors. The Board appointed Ms. Brown to serve as a member of the Company's Audit and Finance Committee and Technology and Cybersecurity Committee. Ms. Brown, 53, currently serves as Senior Vice President and Chief Information Officer (CIO) of Whirlpool Corporation's Global Information Technology function. Ms. Brown has been in information technology (IT) leadership for more than 20 years, including serving as CIO at Brunswick Corporation for four years pri
Dollar Tree, Inc. (NASDAQ:DLTR) today announced that Diane Randolph has been appointed as a new independent director to the Company's Board of Directors, effective August 15, 2023. Ms. Randolph served for more than 12 years as Chief Information Officer for two leading retail organizations, including Ulta Beauty (NASDAQ:ULTA) and Reitmans Canada Limited (TSXV:RET). In September 2021, Ms. Randolph joined the Board of Directors of Shoe Carnival (NASDAQ:SCVL), one of the largest family footwear retailers, and is a member of the Nominating & Governance and the Compensation Committees. In February 2022 she was named to the Board of Directors of Flexe, Inc., a venture-backed private company that
PHOENIX, March 30, 2022 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. ("WillScot Mobile Mini" or the "Company") (NASDAQ:WSC), the North American leader in innovative flexible workspace and portable storage solutions, today announced the appointment of Erika Davis to the WillScot Mobile Mini Board of Directors, effective April 1, 2022. "We are truly pleased to welcome Erika Davis to the WillScot Mobile Mini Board," said Erik Olsson, Chairman of WillScot Mobile Mini. "Ms. Davis' appointment supports the Company's commitment to enhance and diversify the skills, knowledge and expertise of its Board. She is a dynamic leader with vast experience driving customer-centric operational im
Performance Food Group Company (PFG) (NYSE:PFGC) today announced management changes designed to align the company's reporting structure with its strategy to capture growth opportunities across business units. Effective January 3, Craig Hoskins has been appointed President & Chief Operating Officer, overseeing PFG's Foodservice and Vistar operations, and Patrick Hagerty has been appointed Executive Vice President & Chief Commercial Officer. Both continue to report to George Holm, PFG Chairman & Chief Executive Officer. "I am excited to announce a new operating management structure for PFG," said Mr. Holm. "Over the past several years, our company has been transformed through strategic acqu
Performance Food Group Company (PFG) (NYSE:PFGC) announced that it has appointed Laura Flanagan to serve as an independent director on its Board of Directors, effective today. This appointment expands PFG's Board to 12 directors. Ms. Flanagan, 53, has served as a Director of Core-Mark Holding Company, Inc. (Core-Mark) since June 2016. PFG acquired Core-Mark effective today. Ms. Flanagan currently serves as the CEO of Ripple Foods, a leader in branded plant-based foods and beverages. She brings a wealth of knowledge and experience through her many food-industry leadership roles, which include serving as Chief Executive Officer of Foster Farms, the West Coast leader in branded and private la
Performance Food Group Company (PFG) (NYSE:PFGC) announced today that it has completed the acquisition of Core-Mark Holding Company, Inc. (Core-Mark). The transaction creates a best-in-class convenience business within PFG's Vistar segment that includes the Core-Mark and Eby-Brown businesses. The expanded convenience business will continue to operate under Core-Mark and will be headquartered in Westlake, Texas with Eby maintaining ongoing operations in Naperville, Illinois. Scott McPherson will continue in his role as President and Chief Executive Officer of Core-Mark, and Tom Wake will continue as President and Chief Executive Officer of Eby-Brown, reporting to Mr. McPherson. "We are very
RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company (PFG) (NYSE: PFGC) today announced that it has appointed Warren M. Thompson to serve as an independent director on its Board of Directors, effective today. This appointment expands PFG’s Board to 11 directors. The Board appointed Mr. Thompson to serve as a member of the Company’s Audit Committee and as a member of the Technology Committee, also effective immediately. Mr. Thompson, 61, currently serves as President and Chairman of Thompson Hospitality Corporation, the largest minority-owned foodservice and facilities management company in the U.S. The company was founded in 1992 when Mr. Thompson completed a leveraged bu
Morgan Stanley resumed coverage of Performance Food Group with a rating of Equal-Weight and set a new price target of $92.00
Piper Sandler resumed coverage of Performance Food Group with a rating of Overweight and set a new price target of $72.00
Deutsche Bank initiated coverage of Performance Food Group with a rating of Buy and set a new price target of $80.00
Morgan Stanley downgraded Performance Food Group from Overweight to Equal-Weight and set a new price target of $66.00 from $74.00 previously
Stephens initiated coverage of Performance Food Group with a rating of Overweight and set a new price target of $60.00
Berenberg initiated coverage of Performance Food Group with a rating of Buy and set a new price target of $71.00
Deutsche Bank initiated coverage of Performance Food Group with a rating of Buy and set a new price target of $62.00
CL King initiated coverage of Performance Food Group with a rating of Buy and set a new price target of $60.00
Morgan Stanley reiterated coverage of Performance Food Group with a rating of Overweight and set a new price target of $65.00 from $62.00 previously
Truist initiated coverage of Performance Food Group with a rating of Buy and set a new price target of $61.00
Morgan Stanley analyst Brian Harbour maintains Performance Food Gr (NYSE:PFGC) with a Equal-Weight and lowers the price target from $80 to $76.
Performance Food Gr's (NYSE:PFGC) short percent of float has fallen 4.68% since its last report. The company recently reported that it has 1.96 million shares sold short, which is 1.63% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short in
Performance Food Gr's (NYSE:PFGC) short percent of float has risen 6.6% since its last report. The company recently reported that it has 1.36 million shares sold short, which is 1.13% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.17 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short inte
Barclays analyst Jeffrey Bernstein maintains Performance Food Gr (NYSE:PFGC) with a Overweight and lowers the price target from $86 to $84.
Performance Food Group Company (NYSE:PFGC) shares are trading higher on Wednesday. The company reported that the third quarter adjusted earnings per share was 80 cents, which missed the street view of 84 cents. Total case volume decreased 0.2%, while net sales increased 0.6%. Quarterly sales of $13.858 billion missed the street view of $14.188 billion. George Holm, PFG’s Chairman & Chief Executive Officer, said, “After a challenging January due to tough weather conditions, our business saw sequential improvement in February and March.” Third-quarter net sales for Foodservice increased 1.0% to $7 billion compared to the prior year period. Vistar’s net sales increased by 1.7% to $1
. For the full fiscal year 2024, Performance Food Groupnow expects Adjusted EBITDA to be in a $1.48 billion to $1.5 billion range compared to the previously announced $1.45 billion to $1.5 billion range
Performance Food Gr (NYSE:PFGC) reported quarterly earnings of $0.80 per share which missed the analyst consensus estimate of $0.84 by 4.76 percent. This is a 3.61 percent decrease over earnings of $0.83 per share from the same period last year. The company reported quarterly sales of $13.86 billion which missed the analyst consensus estimate of $14.19 billion by 2.34 percent. This is a 0.63 percent increase over sales of $13.77 billion the same period last year.
Performance Food Gr's (NYSE:PFGC) short percent of float has fallen 54.27% since its last report. The company recently reported that it has 900 thousand shares sold short, which is 0.75% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.28 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short i