Performance Food Group (NYSE:PFGC) Insider Hugh Patrick Hatcher Sells 3,000 Shares

Performance Food Group Company (NYSE:PFGC) insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the transaction, the insider owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. This represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Performance Food Group Trading Up 0.9%

NYSE PFGC traded up $0.90 during trading on Wednesday, reaching $95.93. 1,636,247 shares of the stock traded hands, compared to its average volume of 2,212,403. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 45.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.92. The stock’s 50-day moving average price is $88.16 and its 200 day moving average price is $92.31. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in Performance Food Group by 1.0% during the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after purchasing an additional 216,720 shares during the last quarter. Wellington Management Group LLP boosted 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 during the last quarter. Geode Capital Management LLC boosted 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 during the last quarter. Eminence Capital LP boosted its holdings in Performance Food Group by 60.5% during the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after purchasing an additional 998,249 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PFGC shares. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Citigroup lifted their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays lifted their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, UBS Group cut their price target on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

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.