Performance Food Group (NYSE:PFGC) Insider A Brent King Sells 1,178 Shares

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 1,178 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $104.43, for a total value of $123,018.54. Following the completion of the sale, the insider directly owned 46,622 shares of the company’s stock, valued at approximately $4,868,735.46. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

A Brent King also recently made the following trade(s):

• On Thursday, August 20th, A Brent King sold 8,023 shares of Performance Food Group stock. The shares were sold at an average price of $104.21, for a total value of $836,076.83.
• On Tuesday, August 18th, A Brent King sold 1,529 shares of Performance Food Group stock. The shares were sold at an average price of $104.64, for a total value of $159,994.56.
• On Friday, June 12th, A Brent King sold 6,111 shares of Performance Food Group stock. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00.
• On Tuesday, June 9th, A Brent King sold 3,322 shares of Performance Food Group stock. The stock was sold at an average price of $100.00, for a total transaction of $332,200.00.
• On Wednesday, June 10th, A Brent King sold 3,518 shares of Performance Food Group stock. The shares were sold at an average price of $100.00, for a total transaction of $351,800.00.
• On Monday, June 1st, A Brent King sold 5,641 shares of Performance Food Group stock. The shares were sold at an average price of $96.63, for a total transaction of $545,089.83.

Performance Food Group Stock Up 0.9%

PFGC opened at $105.89 on Tuesday. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The firm has a market capitalization of $16.68 billion, a P/E ratio of 46.24, a PEG ratio of 1.35 and a beta of 0.91. The company’s 50-day moving average is $110.13 and its 200 day moving average is $98.33. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67.

Performance Food Group (NYSE:PFGC) last issued 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 return on equity of 15.15% and a net margin of 0.53%.The firm had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Research analysts expect that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PFGC has been the subject of a number of research reports. Citigroup increased their target price on shares of Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a research note on Thursday, August 13th. Morgan Stanley raised their target price on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Guggenheim boosted their target price on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, UBS Group dropped their price target on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.90.

Institutional Trading of Performance Food Group

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after buying an additional 184,066 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Performance Food Group during the first quarter worth $359,000. EverSource Wealth Advisors LLC lifted its position in shares of Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after acquiring an additional 537 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Performance Food Group in the second quarter worth $230,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Performance Food Group by 499.5% in the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock worth $28,764,000 after acquiring an additional 273,997 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Performance Food Group

Here are the key news stories impacting Performance Food Group this week:

• Neutral Sentiment: Performance Food Group announced that board member Sc… resigned on August 24. The available report does not provide details on the reason for the departure, limiting the immediate assessment of its impact. Performance Food Group Announces Board Member Resignation
• Negative Sentiment: Several insiders sold a combined 19,030 shares in transactions executed August 20–21 at prices around $104.21–$104.43. While the sales are relatively small compared with the company’s overall market value, the concentration of selling may weigh on sentiment by signaling that insiders are reducing exposure. SEC insider trading filing SEC insider trading filing SEC insider trading filing
• Negative Sentiment: Erika T. Davis sold 9,186 shares for approximately $957,520, reducing her holdings by about 18.1% across the two reported transactions. A. Brent King sold 9,201 shares worth approximately $959,095, cutting his position by about 16.8%. Chasity D. Grosh sold 643 shares for roughly $67,142, an 8.2% reduction. These transactions are not necessarily evidence of deteriorating business conditions, as insiders may sell for personal or compensation-related reasons, but the timing and volume could create short-term selling pressure.

About Performance Food Group

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.