Good morning, everyone. Thank you for joining us. I hope everyone had a chance to grab breakfast in the room, and hello to everyone out on the webcast. My name is Jeff Bernstein, and I'm the restaurant and food service distribution analyst here at Barclays. To be clear, I do have plans to retire at the end of actually this month after 25-plus years in a row. So I'm officially the outgoing analyst with the next analyst to be named hopefully shortly.
But I did want to welcome all to day 3 of the 19th Annual Global Consumer Conference. We have had 14 restaurant and food service distribution companies here with us between Tuesday, Wednesday, Thursday, we had BJ's, Cheesecake and [ Kura ] on Tuesday. Bloomingdine, First Watch Restaurant Brands, Sysco, Texas Roadhouse, Wendy's, US Foods, Yum! and Wingstop yesterday, and we are excited to have one company today, which is Performance Food Group.
So we hope you have found the conference a good use of time. And at this point, I would love to introduce our final presenting company for the day, at least for me, which is Performance Food Group. So with us this morning from Richmond, Virginia, we have got Scott McPherson to my immediate right, he's the CEO; and Patrick Hatcher to his right, who is the CFO.
By way of background, for those not familiar -- bless you. Performance Food Group is one of the largest food service distributors in North America. They have 150-plus locations. They deliver food and related products to 350,000 or more locations, including
The executive traded 3,000 shares for a total transaction value of ~$298,000 on September 1, 2026. The transaction size was ~5% of the shares held directly by the insider prior to the filing.
Nykredit A S purchased a new stake in shares of Performance Food Group Company (NYSE:PFGC – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,063 shares of the food distribution company’s stock, valued at approximately $678,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Performance Food Group during the 2nd quarter valued at $1,851,000. Cookson Peirce & Co. Inc. boosted its position in shares of Performance Food Group by 8.4% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,103 shares of the food distribution company’s stock valued at $459,000 after purchasing an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Performance Food Group by 2.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,472 shares of the food distribution company’s stock worth $835,000 after purchasing an additional 175 shares in the last quarter. Greenleaf Trust purchased a new stake in Performance Food Group during the second quarter valued at about $201,000. Finally, Braun Stacey Associates Inc. increased its position in shares of Performance Food Group by 23.0% in the second quarter. Braun Stacey Associates Inc. now owns 126,004 shares of the food distribution company’s stock worth $14,086,000 after acquiring an additional 23,575 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.
Performance Food Group Trading Down 0.0% NYSE PFGC opened at $98.60 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The firm’s fifty day simple moving average is $109.05 and its 200-day simple moving average is $98.78. The company has a market capitalization of $15.53 billion, a PE ratio of 43.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88.
Performance Food Group (NYSE:PFGC – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The firm had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period in the previous year, the business posted $0.84 EPS. Performance Food Group’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year. Wall Street Analysts Forecast Growth Several equities research analysts recently commented on PFGC shares. TD Cowen reduced their price target on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised shares of Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Citigroup lifted their price target on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company upped their price target on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $126.90.
Check Out Our Latest Stock Analysis on PFGC
Insiders Place Their Bets In related news, insider Donald S. Bulmer sold 1,353 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $142,457.37. Following the transaction, the insider owned 52,938 shares of the company’s stock, valued at approximately $5,573,842.02. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A. King sold 1,320 shares of Performance Food Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the sale, the insider owned 44,216 shares of the company’s stock, valued at $4,655,502.64. This trade represents a 2.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,428 shares of company stock worth $5,687,710 in the last quarter. Corporate insiders own 4.50% of the company’s stock.
(Free Report)
Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.
Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.
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The disposition involved 1,531 shares at a price of $104.98 per share, representing a total value of ~$161,000 as of the August 22, 2026 transaction date. The transaction reduced the insider's direct common stock position by 2%.
Performance Food Group Company to Participate in the Barclays 19th Annual Global Consumer Conference Performance Food Group Company (PFG) NYSE:PFGC today announced that Scott McPherson, PFG President & Chief Executive Officer and Patrick Hatcher, Executive Vice President & Chief Financial Officer will participate in the Barclays 19th Annual Global Consumer Conference.
PFG will webcast its fireside chat live on Thursday, September 10, 2026, at 8:15 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 than 150 locations. Founded and headquartered in Richmond, Virginia, PFG and our family of companies market and deliver quality food and food-related products to over 350,000 locations, including independent and chain restaurants, schools, business and industry locations, vending and office coffee service distributors, retailers, convenience stores, and theaters, and direct to consumers. PFG’s success as a Fortune 100 company is achieved through our over 44,000 dedicated associates committed to building strong relationships with the valued customers, suppliers and communities we serve. To learn more about PFG, visit pfgc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260827495308/en/
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company (“PFG” or the “Company”) (NYSE: PFGC) today announced that the independent directors of the Company's Board of Directors (the “Board”) have elected Matthew C. Flanigan to serve as Lead Independent Director following PFG's 2026 Annual Meeting of Stockholders (the “Annual Meeting”). Flanigan, who currently chairs the Board's Audit and Finance Committee, will succeed Manuel A. Fernandez, who has served in the role since 2019. The Compa.
Key Takeaways PFGC's sales rose 6.4%, while adjusted earnings increased 2.6% but missed estimates.Foodservice case volume grew 5.8%, supported by gains with independent customers.PFGC targets fiscal 2027 sales of $72.5-$73 billion and adjusted EBITDA of $2.125-$2.225 billion.
Performance Food Group Company (PFGC - Free Report) reported fourth-quarter fiscal 2026 results, wherein both the top and bottom lines increased year over year. However, both metrics missed the Zacks Consensus Estimate.
PFGC's Q4 Performance: Key InsightsThe company posted adjusted earnings of $1.59 per share, up 2.6% from $1.55 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $1.62. Higher fuel expenses and costs associated with the Cheney Brothers facility transition weighed on operating performance.
Net sales increased 6.4% year over year to $18,028.9 million from $16,938.9 million but missed the Zacks Consensus Estimate of $18,214 million. Organic independent Foodservice case volume increased 5.8% year over year, reflecting continued gains with independent customers.
PFGC's Profitability & Cost PerformanceGross profit increased 8.3% year over year to $2,168.8 million from $2,002.2 million. Growth reflected favorable case mix, including greater independent-channel business, recent acquisitions and vendor rebates and promotional incentives.
Operating expenses increased 6.4% to $1,845 million from $1,734.4 million a year ago. The increase stemmed from recent acquisitions, higher fuel prices and miles driven, increased wages and commissions and greater depreciation and amortization expense.
Operating profit climbed 20.9% to $323.8 million from $267.8 million. Adjusted EBITDA rose 7.4% to $587.5 million from $546.9 million in the year-ago quarter.
PFGC's Foodservice Segment AdvancesFoodservice net sales increased 6.8% to $9,815.6 million from $9,191.5 million in the prior-year quarter, missing the Zacks Consensus Estimate of $9,856 million. Growth was driven primarily by recent acquisitions, higher selling prices and organic case-volume growth. Independent customers remained an important contributor, with organic independent case volume rising 5.8%.
Foodservice adjusted EBITDA increased 2.2% year over year to $395.5 million from $386.9 million. Gross-profit growth was partly offset by higher personnel, acquisition-related, fuel and insurance expenses.
Performance Food Group's Convenience StrengthConvenience net sales rose 5.7% to $6,805.8 million from $6,436.3 million in the year-ago period. The metric missed the Zacks Consensus Estimate of $6,887 million. Growth primarily reflected higher case volume from new chain customers and inflation in selling prices, partly offset by a shift from cigarettes toward alternative nicotine products.
Convenience adjusted EBITDA increased 10.4% to $132.5 million from $120 million. The improvement reflected higher gross profit from vendor rebates and promotional incentives, case growth and manufacturer distribution income, partly offset by higher operating expenses.
PFGC's Specialty & Corporate Segment ResultsSpecialty net sales increased 6.6% to $1,336.7 million from $1,253.5 million, surpassing the Zacks Consensus Estimate of $1,300 million. Higher selling prices, increased cases sold and favorable channel mix supported sales. Specialty adjusted EBITDA slipped 0.5% to $92.7 million from $93.2 million as higher operating expenses more than offset gross-profit growth.
Corporate & All Other net sales increased 7.8% to $276.9 million from $256.9 million in the prior-year quarter, surpassing the Zacks Consensus Estimate of $271 million. Corporate & All Other adjusted EBITDA was a loss of $33.2 million compared with $53.2 million a year earlier.
PFGC’s Financial PositionFor fiscal 2026, operating cash flow increased to $1,413.7 million from $1,210.1 million in fiscal 2025. Capital expenditures decreased to $384.1 million from $506 million in fiscal 2025, helping free cash flow rise to $1,029.6 million from $704.1 million. Cash increased to $92.4 million from $78.5 million, while long-term debt declined to $5,006.8 million from $5,388.8 million.
Performance Food Group's OutlookFor the fiscal first quarter of 2027, the company expects net sales in the range of $17.9 billion to $18.1 billion and adjusted EBITDA of $510 million to $530 million. EBITDA growth is expected to accelerate through the fiscal year, supported by new business wins, procurement efficiency initiatives and continued progress on cost synergies from M&A activities.
For fiscal 2027, the company targets sales of $72.5 billion to $73 billion and adjusted EBITDA of $2.125 billion to $2.225 billion. The outlook includes a 53rd week, expected to benefit results by approximately 2%. At the midpoint, sales and adjusted EBITDA are projected to grow 7.2% and 12.7%, respectively, keeping the company on track toward its fiscal 2028 targets.
Shares of this Zacks Rank #3 (Hold) company have risen 9.6% over the past six months compared with the industry’s growth of 17.5%.
Image Source: Zacks Investment Research
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Darling Ingredients Inc. (DAR - Free Report) develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. DAR currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DAR’s current fiscal-year sales and earnings implies growth of 12.8% and 926.5%, respectively, from the year-ago actuals. DAR delivered a trailing four-quarter negative earnings surprise of 38.9%, on average.
The Chef’s Warehouse, Inc. (CHEF - Free Report) distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. CHEF currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for CHEF’s current fiscal-year sales and earnings indicates growth of 10.6% and 24.7%, respectively, from the year-ago reported figures. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
US Foods Holding Corporation (USFD - Free Report) , together with its subsidiaries, markets, sells and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. USFD currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for US Foods’ current fiscal-year sales and earnings implies growth of 5.1% and 16.3%, respectively, from the year-ago actuals. USFD delivered a trailing four-quarter earnings surprise of 1.5%, on average.
Performance Food Group remains a 'buy' despite Q4 2026 misses, with strong year-over-year growth and positive long-term guidance. PFGC's Foodservice and Convenience segments drove revenue and profit gains, aided by acquisitions and organic case growth, though Specialty faced margin pressure. Management projects 2027 revenue of $72.5–$73 billion and normalized EBITDA around $2.13 billion, with further upside expected by 2028.
3 Russell 2000 stocks for your January watchlistPerformance Food Group NYSE: PFGC reported fiscal fourth-quarter growth in sales, gross profit and adjusted EBITDA, as the food distributor cited market-share gains across its foodservice, convenience and specialty businesses despite pressure on restaurant traffic and operating costs.
For the quarter, total net sales rose 6.4%, while total company case volume increased 3.5%. Gross profit increased 8.3%, including a $0.34 year-over-year increase in gross profit per case. Net income rose 23.4% to $162.3 million, and adjusted EBITDA increased 7.4% to $587.5 million, reaching the upper end of the range implied by the company’s prior full-year outlook.
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3 Dividend Kings Poised to Outperform the MarketDiluted earnings per share were $1.03, while adjusted diluted EPS rose 2.6% to $1.59. Chief Financial Officer Patrick Hatcher said the company’s effective tax rate was 26.8% in the quarter and is expected to return to its historical range of roughly 26% to 27% for fiscal 2027.
Foodservice independent growth outpaced restaurant traffic backdrop CEO Scott McPherson said Performance Foodservice delivered 5.8% organic independent restaurant case growth in the fourth quarter and 5.9% growth for the full fiscal year. The result came as restaurant foot traffic was negative in every month of fiscal 2026, according to Black Box Intelligence, he said.
US Foods is Managing Inflation Deceleration the Right WayMcPherson attributed the performance to new customer additions, wallet-share gains at existing accounts and investments in sales personnel, customer-facing technology and branded products. The company added independent accounts at roughly a 5% pace during the quarter, he said.
PFG-branded products represented about 54% of cases sold to independent restaurants during the quarter excluding Cheney Brothers, or just over 50% including Cheney. The company launched more than 580 branded stock-keeping units during fiscal 2026, bringing its portfolio to approximately 25,000 SKUs across more than 85 brand families.
Chain restaurant case volume declined slightly during the quarter, although McPherson said it continued to outperform reported restaurant traffic trends. He said the company expects similar chain-volume performance over the next two quarters before additional business tied to an expanded relationship with Jersey Mike’s begins entering its distribution network around the middle of fiscal 2027. PFG was awarded three of four regions included in the Jersey Mike’s request-for-proposal process, McPherson said.
Convenience segment delivered double-digit EBITDA growth The convenience business, led by Core-Mark, remained a major source of profit growth. Segment EBITDA increased 10.4% in the fourth quarter, supported by gross-margin gains and operating-expense controls.
McPherson said Core-Mark grew sales across national, regional and independent customer accounts during fiscal 2026. National-store count increased 16%, supported by additions including Love’s Travel Stops & Country Stores and RaceTrac, driving 6.9% case growth in the national portfolio for the year.
The company also reported market-share gains in foodservice, candy, snacks and health-and-beauty categories. Those non-nicotine categories grew at a mid-single-digit rate in the fourth quarter, compared with an industry decline of nearly 6%, according to management.
Convenience case growth slowed to 3.4% in the fourth quarter from a higher rate in the prior quarter. McPherson said the deceleration reflected some competitive losses, higher gasoline prices and softer per-store case volume. He added that the company expects benefits from the Love’s and RaceTrac business to continue through the middle of fiscal 2027, while new wins and some customer losses are expected during the year.
Specialty sales accelerated, while cost pressures remain The specialty segment, which includes Vistar, posted 6.6% sales growth in the fourth quarter. Management said sales momentum accelerated in each of the final three quarters of fiscal 2026, aided by new accounts and growth in vending, campus, travel and hospitality channels.
McPherson said specialty continued to face inflation in candy and snacks, a choppy consumer environment and elevated operating costs. The company expects those cost pressures to persist during the first half of fiscal 2027, although it expects continued sales momentum to support a stronger finish to the year.
Vistar also began shipping products to specialty grocery customers late in fiscal 2026 through collaboration with the foodservice organization. Management said the segment’s direct-to-business and consumer capabilities, fresh and frozen shipping, and delivery platform for smaller venues could provide additional long-term growth opportunities.
Fiscal 2027 guidance calls for EBITDA acceleration PFG issued fiscal 2027 guidance for net sales of $72.5 billion to $73 billion and adjusted EBITDA of $2.125 billion to $2.225 billion. At the midpoints, the outlook represents 7.2% sales growth and 12.7% adjusted EBITDA growth. The guidance includes an estimated 2% benefit from a 53rd week in the fiscal fourth quarter.
First-quarter fiscal 2027 net sales guidance: $17.9 billion to $18.1 billion. First-quarter adjusted EBITDA guidance: $510 million to $530 million. Expected companywide inflation for fiscal 2027: low- to mid-single digits. Full-year foodservice inflation assumption: about 2%. Hatcher said the company expects EBITDA growth to accelerate as the year progresses, supported by customer wins, procurement efficiencies, reduced comparison pressure from costs associated with the Florence, South Carolina, facility, and continued merger-and-acquisition cost synergies. Management reiterated its expectation to meet or exceed the high end of its $120 million to $125 million procurement-synergy target by the end of fiscal 2028.
The company generated more than $1.4 billion in operating cash flow during fiscal 2026 and more than $1 billion in free cash flow. Capital expenditures totaled $384.1 million, and PFG expects fiscal 2027 capital spending to remain below its long-term target of 70 basis points of net revenue. Net debt ended the year just below the top of the company’s 2.5x to 3.5x leverage target range.
Management said it continues to evaluate strategic acquisitions, including the recently discussed Cash-Wa business, while also prioritizing debt reduction, growth investments and capacity expansion. Hatcher said interest expense is expected to remain relatively flat through most of fiscal 2027, with improvement anticipated toward the end of the year.
About Performance Food Group (NYSE:PFGC)Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.
Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.
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For the quarter ended June 2026, Performance Food Group (PFGC - Free Report) reported revenue of $18.03 billion, up 6.4% over the same period last year. EPS came in at $1.59, compared to $1.55 in the year-ago quarter.
The reported revenue represents a surprise of -1.02% over the Zacks Consensus Estimate of $18.21 billion. With the consensus EPS estimate being $1.62, the EPS surprise was -1.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Performance Food performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Convenience: $6.81 billion versus the two-analyst average estimate of $6.89 billion. The reported number represents a year-over-year change of +5.7%.Revenue- Foodservice: $9.82 billion versus the two-analyst average estimate of $9.86 billion. The reported number represents a year-over-year change of +6.8%.Revenue- Intersegment Eliminations: $-206.1 million versus $-205.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.4% change.Revenue- Corporate & All Other: $276.9 million versus the two-analyst average estimate of $270.83 million. The reported number represents a year-over-year change of +7.8%.Revenue- Specialty: $1.34 billion compared to the $1.3 billion average estimate based on two analysts. The reported number represents a change of +6.6% year over year.View all Key Company Metrics for Performance Food here>>>
Shares of Performance Food have returned +0.9% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Performance Food Group (PFGC - Free Report) came out with quarterly earnings of $1.59 per share, missing the Zacks Consensus Estimate of $1.62 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -1.85%. A quarter ago, it was expected that this food distributor would post earnings of $0.77 per share when it actually produced earnings of $0.8, delivering a surprise of +3.9%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Performance Food, which belongs to the Zacks Food - Natural Foods Products industry, posted revenues of $18.03 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.02%. This compares to year-ago revenues of $16.94 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Performance Food shares have added about 26.7% since the beginning of the year versus the S&P 500's gain of 12.9%.
What's Next for Performance Food?While Performance Food has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Performance Food was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.37 on $18.14 billion in revenues for the coming quarter and $5.71 on $72.09 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Natural Foods Products is currently in the top 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Sportsman's Warehouse (SPWH - Free Report) , another stock in the broader Zacks Retail-Wholesale sector, has yet to report results for the quarter ended July 2026.
This outdoor sporting goods specialty retailer is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Sportsman's Warehouse's revenues are expected to be $295.05 million, up 0.4% from the year-ago quarter.
Performance Food Group (NYSE:PFGC – Get Free Report) is expected to be announcing its Q4 2026 results before the market opens on Wednesday, August 12th. Analysts expect Performance Food Group to post earnings of $1.60 per share and revenue of $18.1094 billion for the quarter. Investors are encouraged to explore the company’s upcoming Q4 2026 earning results page for the latest details on the call scheduled for Wednesday, August 12, 2026 at 9:00 AM ET.
Performance Food Group Stock Down 0.1% Shares of PFGC opened at $114.76 on Monday. The company has a market capitalization of $18.03 billion, a P/E ratio of 54.65, a PEG ratio of 1.44 and a beta of 0.91. Performance Food Group has a one year low of $80.82 and a one year high of $117.47. The business’s 50 day simple moving average is $108.48 and its 200-day simple moving average is $97.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68.
Wall Street Analyst Weigh In Several research firms recently weighed in on PFGC. Barclays boosted their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their target price on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley upped their price target on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $123.00 price target on shares of Performance Food Group in a report on Thursday, May 7th. Finally, Guggenheim lifted their price objective on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.82.
Read Our Latest Stock Report on PFGC
Insider Buying and Selling at Performance Food Group In other Performance Food Group news, Director Kimberly Grant sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. The trade was a 17.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider A Brent King sold 6,111 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares in the company, valued at $4,647,300. This represents a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 30,187 shares of company stock worth $3,027,315. Company insiders own 4.50% of the company’s stock.
Institutional Investors Weigh In On Performance Food Group Several hedge funds have recently added to or reduced their stakes in PFGC. Wellington Management Group LLP lifted its holdings in shares of Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares in the last quarter. Invesco Ltd. grew its stake in Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. UBS Group AG grew its stake in Performance Food Group by 246.4% during the third quarter. UBS Group AG now owns 1,158,288 shares of the food distribution company’s stock valued at $120,508,000 after acquiring an additional 823,882 shares in the last quarter. Bank of America Corp DE increased its holdings in Performance Food Group by 101.2% in the 3rd quarter. Bank of America Corp DE now owns 1,265,685 shares of the food distribution company’s stock valued at $131,682,000 after acquiring an additional 636,506 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Performance Food Group by 194.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 833,228 shares of the food distribution company’s stock valued at $86,689,000 after acquiring an additional 550,551 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.
Performance Food Group Company Profile (Get Free Report)
Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.
Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.
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George L. Holm, Executive Chair of Performance Food Group Company (PFGC +0.28%) , sold 29,131 shares for ~$3.3 million on July 30, 2026, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueShares sold29,131Transaction value~$3.3 millionPost-transaction shares (directly held)~1.6 millionPost-transaction value$186.07 millionTransaction value based on SEC Form 4 weighted average sale price ($114.54); post-transaction value based on July 30, 2026, market close ($114.75).
Key questionsHow was this transaction structured?
The disposition was an exercise-and-sell transaction where George L. Holm exercised 29,131 options at $26.57 per share and immediately sold the resulting shares. The sale was executed in multiple tranches at weighted average prices ranging from $113.85 to $115.68 under a pre-established Rule 10b5-1 trading plan.What is the extent of the remaining equity stake?
Following this transaction, George L. Holm retains direct ownership of 1,621,552 shares of Performance Food Group Company. This direct position is valued at $186.07 million based on the market close on the date of the transaction.What is the current market context for the company?
Performance Food Group Company shares have delivered a 12% total return over the 12 months ending July 30, 2026. The sale was completed at a weighted average price of $114.54, closely aligned with the $114.75 market close on the transaction date.Company OverviewMetricValueShare Price (as of market close 2026-07-30)$114.75Market Capitalization$18.0 billionRevenue (TTM)$66.7 billionNet Income (TTM)$328.5 millionCompany SnapshotPerformance Food Group operates as a comprehensive distributor of food and related products across North America, offering a diverse portfolio of beef, pork, poultry, seafood, frozen and refrigerated products, dry groceries, candy, snacks, beverages, and fresh produce through its three operating segments: Foodservice, Convenience, and Specialty.The company generates revenue through a B2B distribution model, leveraging its extensive logistics network and supplier relationships to deliver products to foodservice operators, convenience stores, and specialty retailers across North America.Performance Food Group primarily serves foodservice establishments, convenience store operators, and specialty retailers, positioning itself as a critical supply chain partner for food service operators and retail businesses throughout the region.
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Performance Food Group is one of North America's largest food distribution companies, with trailing-12-month revenues of $66.7 billion and a market capitalization of $18 billion, serving approximately 43,000 employees across its operations.
The company maintains a competitive advantage through its diversified product portfolio, multi-channel distribution capabilities, and established relationships with both suppliers and customers. The stock’s one-year 12% return reflects investor confidence in its operational execution and market positioning within the defensive consumer staples sector.
What does this transaction mean for investors?This sale was part of a pre-planned transaction executed under Rule 10b5-1 in February 2026. These types of transactions shouldn’t concern investors, especially since Holm’s sale represented a small portion of its overall stake. He still held a significant stake of over 1.6 million shares after the July 30, 2026, sale.
Performance Food Group has demonstrated steady but low growth in recent years. On a trailing 12-month basis, revenue grew 8.4% year over year — in line with the previous three years’ performance.
The stock’s 12% return over the past year reflects the company’s ability to convert revenue into solid profitability, which appears to be rising. Analysts are expecting earnings to grow at over 40% annualized over the next two years, partly reflecting a positive outlook for profit contribution from the acquisition of Cheney a few years ago.
The stock’s high price-to-earnings multiple of 54 reflects expectations of strong earnings growth.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Analysts on Wall Street project that Performance Food Group (PFGC - Free Report) will announce quarterly earnings of $1.62 per share in its forthcoming report, representing an increase of 4.5% year over year. Revenues are projected to reach $18.21 billion, increasing 7.5% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Performance Food metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Revenue- Convenience' to come in at $6.89 billion. The estimate suggests a change of +7% year over year.
Based on the collective assessment of analysts, 'Revenue- Foodservice' should arrive at $9.86 billion. The estimate points to a change of +7.2% from the year-ago quarter.
Analysts forecast 'Revenue- Corporate & All Other' to reach $270.83 million. The estimate indicates a change of +5.4% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Specialty' should come in at $1.30 billion. The estimate indicates a change of +3.8% from the prior-year quarter.
View all Key Company Metrics for Performance Food here>>>
Shares of Performance Food have demonstrated returns of +2.3% over the past month compared to the Zacks S&P 500 composite's +2.3% change. With a Zacks Rank #3 (Hold), PFGC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Performance Food Group (PFGC - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 12. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis food distributor is expected to post quarterly earnings of $1.62 per share in its upcoming report, which represents a year-over-year change of +4.5%.
Revenues are expected to be $18.21 billion, up 7.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.76% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Performance Food?For Performance Food, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.38%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Performance Food will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Performance Food would post earnings of $0.77 per share when it actually produced earnings of $0.80, delivering a surprise of +3.90%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Performance Food doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
[url="]Performance Food Group Company[/url] (PFG) (NYSE: PFGC) will host a live audio webcast at 9 a.m. ET Wednesday, August 12, 2026, to discuss fourth-quarter
NEWTOWN SQUARE, Pa.--(BUSINESS WIRE)--Kaskela Law is investigating Performance Food Group Company (NYSE: PFGC) (“PFG”) on behalf of the company's current shareholders.The investigation seeks to determine whether PFG and/or the company's officers and directors violated the securities laws or breached their fiduciary duties in connection with recent corporate actions.PFG shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional informati.
Assenagon Asset Management S.A. increased its stake in shares of Performance Food Group Company (NYSE: PFGC) by 10.3% in the undefined quarter, according to its most recent 13F filing with the SEC. The firm owned 490,701 shares of the food distribution company's stock after buying an additional 45,867 shares during the period. Assenagon
Company Enters New Phase of Disciplined Transformation Aimed at Driving Scalable Growth, Expanding its AI and High-Performance Footprint, and Maximizing Shareholder Value Company Enters New Phase of Disciplined Transformation Aimed at Driving Scalable Growth, Expanding its AI and High-Performance Footprint, and Maximizing Shareholder Value
AEGON ASSET MANAGEMENT UK Plc reduced its position in shares of Performance Food Group Company (NYSE:PFGC – Free Report) by 32.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,449 shares of the food distribution company’s stock after selling 66,147 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.09% of Performance Food Group worth $12,629,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Performance Food Group by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock worth $1,134,000 after buying an additional 113 shares in the last quarter. US Bancorp DE grew its stake in Performance Food Group by 4.6% during the 3rd quarter. US Bancorp DE now owns 3,283 shares of the food distribution company’s stock valued at $342,000 after acquiring an additional 144 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Performance Food Group by 0.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company’s stock valued at $2,183,000 after acquiring an additional 189 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Performance Food Group by 29.3% in the third quarter. EverSource Wealth Advisors LLC now owns 852 shares of the food distribution company’s stock valued at $89,000 after purchasing an additional 193 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Performance Food Group by 55.4% in the third quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company’s stock valued at $59,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.
Analyst Upgrades and Downgrades Several brokerages have issued reports on PFGC. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Barclays cut their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Morgan Stanley reduced their target price on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.
Check Out Our Latest Stock Analysis on Performance Food Group
Performance Food Group Price Performance PFGC opened at $90.21 on Friday. The stock’s 50-day moving average price is $89.37 and its 200 day moving average price is $93.09. Performance Food Group Company has a 12-month low of $77.44 and a 12-month high of $109.05. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 1.42 and a beta of 0.94.
Performance Food Group (NYSE:PFGC – Get Free Report) last released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, sell-side analysts expect that Performance Food Group Company will post 4.59 earnings per share for the current year.
Insider Activity In other news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.
Performance Food Group Company Profile (Free Report)
Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.
Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.
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Performance Food Group (PFGC - Free Report) came out with quarterly earnings of $0.8 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.76%. A quarter ago, it was expected that this food distributor would post earnings of $1.07 per share when it actually produced earnings of $0.98, delivering a surprise of -8.41%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Performance Food, which belongs to the Zacks Food - Natural Foods Products industry, posted revenues of $16.29 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.76%. This compares to year-ago revenues of $15.31 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Performance Food shares have lost about 3.1% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for Performance Food?While Performance Food has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Performance Food was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.66 on $17.97 billion in revenues for the coming quarter and $4.59 on $67.59 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Natural Foods Products is currently in the bottom 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Retail-Wholesale sector, Gap (GAP - Free Report) , has yet to report results for the quarter ended April 2026.
This clothing chain is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -23.5%. The consensus EPS estimate for the quarter has been revised 2.8% higher over the last 30 days to the current level.
Gap's revenues are expected to be $3.53 billion, up 1.8% from the year-ago quarter.
Performance Food Group remains a "Buy" as valuation offers meaningful upside, even after recent underperformance versus the S&P 500. PFGC delivered strong revenue growth, driven by acquisitions and organic case volume increases, despite margin pressure and mixed segment profitability. Management raised 2026 revenue guidance to $67.7–$68 billion and reaffirmed 2028 EBITDA targets, supporting a bullish long-term outlook.
