Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells $87,688.32 in Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 838 shares of Performance Food Group stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $104.64, for a total value of $87,688.32. Following the completion of the transaction, the insider owned 8,142 shares in the company, valued at $851,978.88. This trade represents a 9.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Performance Food Group Stock Performance

PFGC stock opened at $104.99 on Friday. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 1.35 and a beta of 0.91. The firm has a 50-day simple moving average of $110.09 and a two-hundred day simple moving average of $98.24. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PFGC shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. UBS Group dropped their target price on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Morgan Stanley increased their price target on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company raised their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $126.90.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in Performance Food Group by 30.3% during the first 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 in the last quarter. Empowered Funds LLC purchased a new stake in Performance Food Group in the 1st quarter worth approximately $359,000. EverSource Wealth Advisors LLC boosted its position 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 acquired a new stake in shares of Performance Food Group during the 2nd quarter worth approximately $230,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of Performance Food Group by 499.5% during 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 during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

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.