Performance Food Group (NYSE:PFGC), a prominent player in the foodservice industry, is preparing for its upcoming Annual General Meeting (AGM) set for Wednesday, November 30, 2023. This meeting comes at a time when the company has reported substantial financial growth, with an impressive 110% surge in earnings per share (EPS) over the past three years. Additionally, PFGC has seen a revenue increase of 4.1% in the last year, contributing to a strong shareholder return of 44% during the same period.
The AGM is expected to address several key issues, including executive compensation. George Holm, CEO of PFGC, which boasts a market capitalization of $9.8 billion, received an annual compensation package totaling $9.5 million. This figure includes a salary of $1.2 million and is notably 39% below the median industry standard for CEOs. Despite this lower-than-average pay, Holm has demonstrated a significant commitment to the company through personal investment, with direct ownership of PFGC shares valued at $142 million.
The contrast between Holm's compensation and the company's financial success may be a focal point of discussion during the AGM as shareholders and board members evaluate the direction of the company and its executive pay structure. Performance Food Group's recent achievements suggest a positive trajectory for the company's future endeavors and market position.
InvestingPro Insights
As Performance Food Group (PFGC) gears up for its Annual General Meeting, the latest data from InvestingPro provides a deeper insight into the company's financial health. With a market capitalization of roughly $9.84 billion and trading at a P/E ratio of 23.16, PFGC showcases its potential for investors looking for stable earnings growth. Notably, the company's earnings per share have been consistently increasing, a trend that is supported by eight analysts who have recently revised their earnings projections upwards for the upcoming period.
Moreover, PFGC's stock is trading at a low price-to-earnings ratio relative to its near-term earnings growth, with a PEG ratio of just 0.22, indicating potential undervaluation based on growth expectations. This is coupled with the fact that the company's liquid assets exceed its short-term obligations, reflecting a strong balance sheet that may reassure investors of the company's financial resilience.
InvestingPro Tips highlight that PFGC is a significant force in the Consumer Staples Distribution & Retail industry and is trading at a low revenue valuation multiple, which might be attractive to value investors. Additionally, with the company trading near its 52-week high and showing a strong return over the last month, investor sentiment appears positive. It's also worth noting that analysts predict PFGC will be profitable this year, a continuation of profitability over the last twelve months.
Investors interested in a more comprehensive analysis can find additional InvestingPro Tips on the platform, which currently includes a special Black Friday sale offering a discount of up to 55%. There are over ten additional tips available for PFGC, providing valuable insights for those considering an investment in the company.
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