Key Points
- Insider sale: Performance Food Group insider Hugh Patrick Hatcher sold 3,000 shares at an average price of $94.54, totaling $283,620. After the transaction, he still held 44,655 shares.
- Strong quarterly results: The company reported Q1 EPS of $0.80, topping analyst estimates by $0.03, while revenue came in at $16.29 billion, above expectations and up 6.4% year over year.
- Analyst sentiment remains positive: Wall Street’s overall view is a Moderate Buy, with 10 Buy ratings and an average price target of $119.00.
Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the transaction, the insider directly owned 44,655 shares of the company's stock, valued at approximately $4,221,683.70. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Performance Food Group Stock Performance
NYSE:PFGC opened at $95.93 on Thursday. The company has a market capitalization of $15.07 billion, a P/E ratio of 45.68, a P/E/G ratio of 1.49 and a beta of 0.92. The business has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $92.26. 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 Company has a 1 year low of $80.82 and a 1 year high of $109.05.
Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm had revenue of $16.29 billion for the quarter, compared to analysts' expectations of $16.17 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current year.
Institutional Investors Weigh In On Performance Food Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cedar Mountain Advisors LLC bought a new position in shares of Performance Food Group in the first quarter valued at approximately $28,000. Root Financial Partners LLC bought a new stake in Performance Food Group during the 3rd quarter worth approximately $39,000. Asset Planning Inc bought a new stake in Performance Food Group during the 1st quarter worth approximately $35,000. Torren Management LLC purchased a new stake in Performance Food Group in the 4th quarter worth approximately $41,000. Finally, Eastern Bank purchased a new stake in Performance Food Group in the 3rd quarter worth approximately $47,000. 96.87% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on PFGC shares. Morgan Stanley cut their target price on shares of Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, February 5th. Zacks Research upgraded shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. UBS Group cut their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, February 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $123.00 target price on shares of Performance Food Group in a research report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $119.00.
View Our Latest Research Report on PFGC
Performance Food Group Company Profile
(
Get Free Report)
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.
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