Performance Food Group (NYSE:PFGC) Insider Erika Davis Sells 1,178 Shares of Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,178 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $123,006.76. Following the sale, the insider owned 42,808 shares of the company’s stock, valued at approximately $4,470,011.36. This represents a 2.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Performance Food Group Stock Up 0.9%

Performance Food Group stock opened at $105.89 on Tuesday. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The business has a fifty day moving average price of $110.13 and a 200-day moving average price of $98.33. 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 stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 46.24, a PEG ratio of 1.35 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

Performance Food Group News Roundup

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

• Neutral Sentiment: Performance Food Group announced that board member Sc… resigned on August 24. The available report does not provide details on the reason for the departure, limiting the immediate assessment of its impact. Performance Food Group Announces Board Member Resignation
• Negative Sentiment: Several insiders sold a combined 19,030 shares in transactions executed August 20–21 at prices around $104.21–$104.43. While the sales are relatively small compared with the company’s overall market value, the concentration of selling may weigh on sentiment by signaling that insiders are reducing exposure. SEC insider trading filing SEC insider trading filing SEC insider trading filing
• Negative Sentiment: Erika T. Davis sold 9,186 shares for approximately $957,520, reducing her holdings by about 18.1% across the two reported transactions. A. Brent King sold 9,201 shares worth approximately $959,095, cutting his position by about 16.8%. Chasity D. Grosh sold 643 shares for roughly $67,142, an 8.2% reduction. These transactions are not necessarily evidence of deteriorating business conditions, as insiders may sell for personal or compensation-related reasons, but the timing and volume could create short-term selling pressure.

Analyst Ratings Changes

A number of research firms recently commented on PFGC. Morgan Stanley lifted their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $133.00 price target on shares of Performance Food Group in a research note on Thursday, August 13th. Citigroup lifted their price objective 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. Barclays boosted their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company upped their target price on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.

Institutional Trading of Performance Food Group

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