Hugh Patrick Hatcher Sells 3,000 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Hugh Patrick Hatcher sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total value of $297,540.00. Following the sale, the insider owned 58,167 shares of the company’s stock, valued at $5,769,003.06. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Performance Food Group Stock Performance

NYSE:PFGC traded up $0.15 during midday trading on Wednesday, reaching $99.36. The stock had a trading volume of 1,366,456 shares, compared to its average volume of 1,944,682. The firm has a fifty day simple moving average of $109.86 and a two-hundred day simple moving average of $98.76. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a market cap of $15.65 billion, a P/E ratio of 43.39, a P/E/G ratio of 1.27 and a beta of 0.88.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data 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). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The firm had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.11 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts expect that Performance Food Group Company will post 5.58 EPS for the current year.

Analyst Ratings Changes

PFGC has been the subject of a number of recent analyst reports. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Wells Fargo & Company boosted their target price on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley increased their target price on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Guggenheim raised their price target on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $126.90.

Institutional Trading of Performance Food Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP grew its position in Performance Food Group by 15.5% during the second quarter. Corient Private Wealth LP now owns 33,507 shares of the food distribution company’s stock worth $3,746,000 after buying an additional 4,486 shares during the period. Principia Wealth Advisory LLC increased its holdings in Performance Food Group by 64,576.9% in the second quarter. Principia Wealth Advisory LLC now owns 8,408 shares of the food distribution company’s stock valued at $940,000 after buying an additional 8,395 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Performance Food Group during the 2nd quarter valued at approximately $1,867,000. California State Teachers Retirement System lifted its position in shares of Performance Food Group by 10,766.1% during the 2nd quarter. California State Teachers Retirement System now owns 19,960,216 shares of the food distribution company’s stock valued at $2,231,353,000 after acquiring an additional 19,776,523 shares during the period. Finally, HB Wealth Management LLC boosted its stake in shares of Performance Food Group by 38.8% during the 2nd quarter. HB Wealth Management LLC now owns 4,619 shares of the food distribution company’s stock worth $516,000 after acquiring an additional 1,291 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.