Long Position on PFGC @ $47.50 on 5/11/2022 (Fundamentals)

Performance Food Group Company (PFGC) markets and distributes food and food-related products in the United States. It operates through two segments, Foodservice and Vistar. Stockwinners

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. 

Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's 200-day moving average. Note that the company reports today.

Performance Food Group (PFGC) reported 3rd Quarter March 2022 earnings of $0.51 per share on revenue of $13.1 billion. The consensus earnings estimate was $0.51 per share on revenue of $13.1 billion. The Earnings Whisper number was $0.56 per share. Revenue grew 81.6% on a year-over-year basis.

The company said it expects fiscal 2022 revenue of $50.5 billion to $51.0 billion. The company's previous guidance was $50.0 billion to $51.0 billion and the current consensus revenue estimate is $50.66 billion for the year ending June 30, 2022.

Entry Point: $47.50

Stop Loss: $45.00

Trading Range: $38.82 to $58.13

Target Price: $52.50

Position closed on 6/15/2022 at price of $45.00 with a -5.26% loss in 35 days.

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