Performance Food Group (NYSE:PFGC) Insider Erika Davis Sells 1,529 Shares of Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,529 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $104.64, for a total value of $159,994.56. Following the completion of the transaction, the insider owned 52,963 shares in the company, valued at $5,542,048.32. This represents a 2.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Performance Food Group Stock Up 0.7%

Shares of NYSE:PFGC opened at $104.05 on Friday. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.33 and a beta of 0.91. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The business’s 50 day moving average is $110.08 and its 200 day moving average is $98.19.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFGC. Wells Fargo & Company increased their target price on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price target on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Guggenheim increased their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, TD Cowen dropped their target price on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Performance Food Group by 0.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock valued at $3,372,000 after purchasing an additional 121 shares during the period. HB Wealth Management LLC raised its stake in shares of Performance Food Group by 3.8% in the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after buying an additional 122 shares during the period. Arax Advisory Partners raised its stake in shares of Performance Food Group by 7.4% in the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock valued at $184,000 after buying an additional 140 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Performance Food Group by 16.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock valued at $91,000 after buying an additional 143 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of 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 valued at $243,000 after buying an additional 173 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.