Performance Food Group (NYSE:PFGC) Insider Sells $87,688.32 in Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 838 shares of Performance Food Group stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $104.64, for a total transaction of $87,688.32. Following the completion of the transaction, the insider directly owned 8,142 shares of the company’s stock, valued at $851,978.88. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Performance Food Group Stock Performance

PFGC traded up $0.71 on Thursday, hitting $104.05. 1,367,628 shares of the company’s stock were exchanged, compared to its average volume of 1,976,401. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The stock has a fifty day moving average of $110.08 and a two-hundred day moving average of $98.13. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. The firm has a market cap of $16.39 billion, a PE ratio of 45.44, a P/E/G ratio of 1.34 and a beta of 0.91.

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

Wall Street Analyst Weigh In

PFGC has been the topic of a number of recent research reports. Guggenheim raised 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. UBS Group reduced their price objective on 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. Finally, Morgan Stanley raised their target price on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Institutional Trading of Performance Food Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its stake in shares of Performance Food Group by 1.0% in 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 acquiring an additional 216,720 shares during the period. BlackRock Inc. acquired a new position in shares of Performance Food Group during the second quarter valued at approximately $1,576,983,000. Wellington Management Group LLP raised its holdings in 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 worth $646,447,000 after purchasing an additional 1,964,799 shares in the last quarter. Geode Capital Management LLC raised its holdings in Performance Food Group by 1.3% during the fourth 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 in the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Performance Food Group in the second quarter worth approximately $305,064,000. 96.87% of the stock is currently owned by institutional investors.

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.