Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells 1,843 Shares of Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 1,843 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were 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 of the company’s stock, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Performance Food Group Price Performance

NYSE:PFGC traded up $0.30 during trading hours on Wednesday, reaching $90.31. 2,336,143 shares of the company traded hands, compared to its average volume of 2,981,337. The stock has a market cap of $14.16 billion, a P/E ratio of 41.05, a P/E/G ratio of 1.29 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The firm’s 50-day moving average is $92.74 and its 200-day moving average is $97.62. Performance Food Group Company has a 1-year low of $68.39 and a 1-year high of $109.05.

Performance Food Group (NYSE:PFGC) last issued its quarterly 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). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Institutional Trading of Performance Food Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after purchasing an additional 216,720 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares during the period. Holocene Advisors LP boosted its stake in shares of Performance Food Group by 8.6% in the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after purchasing an additional 244,793 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after purchasing an additional 36,031 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after purchasing an additional 1,168,869 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PFGC. Guggenheim restated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Piper Sandler cut their price target on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Finally, Barclays decreased their price target on 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. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.44.

Performance Food Group Company Profile

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.