Vistar Shines for Performance Food in 3Q but Not Enough to Suggest an Edge; Shares Rich
No-moat Performance Food Group reported third-quarter results that place the firm on track to hit our full-year estimates. Sales for the quarter increased 2.7%, driven by aggregate case volume growth of 0.8% and inflation near 2%. With the firm chalking up 5.6% sales growth year to date, we think it's poised to meet our 6.5% full-year estimate (particularly as the remaining quarter includes the important Mother’s Day, which is historically a leading food-away-from-home day). These sales helped d...Performance Food Group is a holding company. Through its subsidiaries, the company markets and distributes food and food-related products. The company's products include frozen foods, such as meats, appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products. The company also supplies non-food items including paper products such as pizza boxes, disposable napkins, plates and cups; tableware such as china and silverware; cookware such as pots, pans, and utensils; restaurant and kitchen equipment and supplies; cigarettes and other tobacco products; and cleaning supplies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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