Performance Food Group (NYSE:PFGC) Insider Erika Davis Sells 1,529 Shares

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,529 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $104.64, for a total transaction of $159,994.56. Following the sale, the insider owned 52,963 shares of the company’s stock, valued at $5,542,048.32. This trade represents a 2.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Performance Food Group Stock Performance

Shares of Performance Food Group stock traded up $0.71 on Thursday, hitting $104.05. The stock had a trading volume of 1,367,628 shares, compared to its average volume of 1,976,401. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. The business’s 50 day moving average is $110.08 and its two-hundred day moving average is $98.13. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Analysts forecast that Performance Food Group Company will post 5.58 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Guggenheim raised their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. TD Cowen dropped their price objective on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, Morgan Stanley increased their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Performance Food Group by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after purchasing an additional 184,066 shares during the period. Empowered Funds LLC acquired a new position in Performance Food Group in the first quarter valued at about $359,000. EverSource Wealth Advisors LLC lifted its position in 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 purchasing an additional 537 shares during the period. Marshall Wace LLP bought a new stake in Performance Food Group during the second quarter worth about $230,000. Finally, Qube Research & Technologies Ltd grew its stake in Performance Food Group by 499.5% during the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock worth $28,764,000 after buying an additional 273,997 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

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.