Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells 2,595 Shares of Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 2,595 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the completion of the sale, the insider directly owned 40,446 shares of the company’s stock, valued at $4,449,060. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Performance Food Group Stock Performance

Shares of PFGC traded up $1.90 during mid-day trading on Monday, reaching $112.34. 2,041,472 shares of the company’s stock were exchanged, compared to its average volume of 2,051,564. The business’s fifty day simple moving average is $96.53 and its 200-day simple moving average is $93.06. The stock has a market capitalization of $17.65 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $112.76. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. Performance Food Group’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PFGC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday. Guggenheim raised their target price on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Finally, Citigroup lifted their price objective on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFGC. Goldman Sachs Group Inc. increased its stake 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 worth $62,266,000 after purchasing an additional 184,066 shares in the last quarter. Empowered Funds LLC purchased a new stake in Performance Food Group in the 1st quarter valued at approximately $359,000. EverSource Wealth Advisors LLC grew its holdings in 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 stake in Performance Food Group during the 2nd quarter valued at $230,000. Finally, Qube Research & Technologies Ltd increased its position 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 buying an additional 273,997 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.