Performance Food Group (NYSE:PFGC) Insider A Brent King Sells 1,320 Shares

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 1,320 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $138,982.80. Following the completion of the sale, the insider owned 44,216 shares in the company, valued at approximately $4,655,502.64. This represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, August 21st, A Brent King sold 1,178 shares of Performance Food Group stock. The stock was sold at an average price of $104.43, for a total transaction of $123,018.54.
• On Thursday, August 20th, A Brent King sold 8,023 shares of Performance Food Group stock. The stock was sold at an average price of $104.21, for a total transaction 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 transaction of $159,994.56.
• On Friday, June 12th, A Brent King sold 6,111 shares of Performance Food Group stock. The shares were 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 stock was 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 stock was sold at an average price of $96.63, for a total transaction of $545,089.83.

Performance Food Group Trading Down 0.8%

NYSE PFGC opened at $104.94 on Wednesday. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $117.47. 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 $16.53 billion, a PE ratio of 45.82, a P/E/G ratio of 1.36 and a beta of 0.91. The company has a fifty day moving average of $110.14 and a 200 day moving average of $98.43.

Performance Food Group (NYSE:PFGC) last announced 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 company 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%.Performance Food Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. Research analysts forecast that Performance Food Group Company will post 5.58 earnings per share for the current year.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Performance Food Group during the second quarter valued at approximately $1,576,983,000. Goldman Sachs Group Inc. boosted its stake in shares of Performance Food Group by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock worth $125,972,000 after acquiring an additional 121,202 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Performance Food Group by 7.3% during the fourth quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock worth $18,645,000 after purchasing an additional 14,173 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Performance Food Group by 30.9% during the fourth quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock worth $4,408,000 after purchasing an additional 11,569 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Performance Food Group in the 4th quarter valued at $81,020,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Key Performance Food Group News

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

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott… on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PFGC. UBS Group reduced their price target 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. Citigroup upped their price objective on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. 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 report on Wednesday, July 15th. TD Cowen decreased their target price 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. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $126.90.

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.