Performance Food Group (NYSE:PFGC) Insider Erika Davis Sells 8,008 Shares of Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 8,008 shares of Performance Food Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total value of $834,513.68. Following the sale, the insider directly owned 43,986 shares of the company’s stock, valued at $4,583,781.06. This represents a 15.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Performance Food Group Trading Up 0.9%

Shares of PFGC opened at $105.89 on Tuesday. The firm’s 50 day simple moving average is $110.13 and its 200 day simple 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. The company has a market capitalization of $16.68 billion, a P/E ratio of 46.24, a P/E/G ratio of 1.35 and a beta of 0.91. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47.

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

Analysts Set New Price Targets

PFGC has been the topic of a number of research reports. Morgan Stanley lifted their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a research note 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 report on Thursday, August 13th. TD Cowen reduced their price objective on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Barclays increased their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Institutional Investors Weigh In On Performance Food Group

Large investors have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Performance Food Group by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after acquiring an additional 121 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Performance Food Group by 3.8% in the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after purchasing an additional 122 shares during the last quarter. Arax Advisory Partners boosted its stake in Performance Food Group by 7.4% in the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock worth $184,000 after purchasing an additional 140 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Performance Food Group by 16.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after purchasing an additional 143 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its position in Performance Food Group by 6.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock worth $243,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

More Performance Food Group News

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.

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.