Erika Davis Sells 1,750 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,750 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $183,750.00. Following the completion of the transaction, the insider owned 43,041 shares in the company, valued at approximately $4,519,305. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Performance Food Group Stock Up 0.4%

Shares of Performance Food Group stock opened at $104.55 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $109.05. The firm’s 50-day moving average is $93.74 and its two-hundred day moving average is $92.43. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 1.63 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The company had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of PFGC. Goldman Sachs Group Inc. raised its position in shares of 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 purchasing an additional 184,066 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Performance Food Group during the 1st quarter valued at approximately $359,000. EverSource Wealth Advisors LLC grew its stake in Performance Food Group by 440.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after acquiring an additional 537 shares during the period. Marshall Wace LLP acquired a new stake in Performance Food Group in the 2nd quarter valued at $230,000. Finally, Qube Research & Technologies Ltd grew its stake in Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after acquiring an additional 273,997 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on PFGC shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Barclays increased their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Citigroup increased their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.00.

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.