Erika Davis Sells 1,320 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,320 shares of the 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 directly owned 40,402 shares of the company’s stock, valued at $4,253,926.58. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Performance Food Group Trading Down 2.3%

Shares of Performance Food Group stock opened at $102.50 on Thursday. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $117.47. The company’s fifty day simple moving average is $110.12 and its 200-day simple moving average is $98.52. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 44.76, a PEG ratio of 1.35 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS 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 net margin of 0.53% and a return on equity of 15.15%. Performance Food Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, sell-side analysts expect that Performance Food Group Company will post 5.58 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Weiss Ratings raised Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Citigroup lifted their price target on shares of Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a report on Thursday, August 13th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.90.

Key Performance Food Group News

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

• Positive Sentiment: Fiscal fourth-quarter sales increased 6.4% year over year to $18.03 billion, with total case volume up 3.5% and organic case volume up 1.8%. Net income rose 23.4% to $162.3 million, indicating that growth was supported by demand as well as pricing. Performance Food sales and earnings article
• Positive Sentiment: Wall Street’s outlook remains constructive, with 11 analysts rating PFGC a Buy and two rating it a Hold. The consensus rating is “Moderate Buy,” with an average price target of $126.90, supported by recent target increases from several firms.
• Neutral Sentiment: Institutional investors own approximately 96.9% of the stock, and several major funds recently increased or initiated positions. This may provide longer-term support, although the reported holdings changes do not necessarily indicate a near-term trading catalyst.
• Neutral Sentiment: A board member recently resigned, but no reason was disclosed. Without additional details, the immediate effect on PFGC’s outlook is unclear. Performance Food Group board resignation
• Negative Sentiment: Several insiders sold shares between August 20 and 25. Notable transactions included Donald S. Bulmer’s sale of 10,535 shares for approximately $1.12 million, alongside additional sales by A. Brent King, Erika T. Davis and Chasity Grosh. The concentrated selling may weigh on sentiment, even though insider sales can reflect personal or compensation-related decisions. Performance Food Group insider sales
• Negative Sentiment: The latest quarter narrowly missed consensus expectations for both EPS and revenue. Product-cost inflation of approximately 4.7% also raises questions about how much sales growth reflects pricing rather than underlying demand. With PFGC trading below its 50-day moving average and at a relatively high earnings multiple, investors may be more sensitive to modest misses.

Hedge Funds Weigh In On Performance Food Group

Hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC acquired a new position in Performance Food Group during the first quarter worth $28,000. Asset Planning Inc acquired a new stake in shares of Performance Food Group in the 1st quarter valued at $35,000. Torren Management LLC bought a new stake in shares of Performance Food Group in the 4th quarter worth about $41,000. Lloyd Advisory Services LLC. bought a new stake in shares of Performance Food Group in the 4th quarter worth about $43,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Performance Food Group during the 2nd quarter worth about $51,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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.