Performance Food Group (NYSE:PFGC) Insider Sells $545,089.83 in Stock

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 5,641 shares of Performance Food Group stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $96.63, for a total transaction of $545,089.83. Following the completion of the transaction, the insider directly owned 57,211 shares in the company, valued at $5,528,298.93. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Performance Food Group Price Performance

Shares of NYSE:PFGC traded down $1.32 during trading on Tuesday, hitting $96.19. 1,604,780 shares of the company were exchanged, compared to its average volume of 1,860,829. The business’s 50 day moving average is $90.24 and its 200-day moving average is $92.07. The company has a market capitalization of $15.11 billion, a P/E ratio of 45.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. 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 1-year low of $80.82 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. Equities analysts forecast that Performance Food Group Company will post 4.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PFGC shares. Morgan Stanley reduced their price objective on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PFGC. Goldman Sachs Group Inc. grew its position in shares of Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after acquiring an additional 184,066 shares during the period. Empowered Funds LLC purchased a new stake in shares of Performance Food Group during the 1st quarter valued at approximately $359,000. EverSource Wealth Advisors LLC lifted its stake in Performance Food Group by 440.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 537 shares in the last quarter. Marshall Wace LLP purchased a new stake in Performance Food Group in the 2nd quarter worth approximately $230,000. Finally, Qube Research & Technologies Ltd lifted its stake in Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock worth $28,764,000 after purchasing an additional 273,997 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

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.