Key Points
- Insider sale: Performance Food Group insider Erika Davis sold 1,750 shares at an average price of $95.00, totaling about $166,250. After the transaction, she still held 44,791 shares, a 3.76% reduction in her ownership.
- Recent earnings beat: The company reported quarterly EPS of $0.80, beating analyst estimates of $0.77, on revenue of $16.29 billion versus expectations of $16.17 billion. Revenue also rose 6.4% year over year.
- Wall Street remains constructive: Analysts currently have a consensus Moderate Buy rating on PFGC, with a mean price target of $119.00. Ten analysts rate the stock a Buy, while two rate it Hold.
Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Erika Davis sold 1,750 shares of Performance Food Group stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total transaction of $166,250.00. Following the transaction, the insider directly owned 44,791 shares in the company, valued at $4,255,145. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Performance Food Group Trading Up 0.6%
PFGC stock opened at $97.18 on Friday. The company has a market capitalization of $15.27 billion, a PE ratio of 46.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. Performance Food Group Company has a one year low of $80.82 and a one year high of $109.05. The company's 50 day moving average price is $89.69 and its two-hundred day moving average price is $92.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52.
Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business's revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
PFGC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. UBS Group decreased their target price on shares of Performance Food Group from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. Zacks Research raised shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Citigroup lifted their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.00.
Get Our Latest Stock Analysis on Performance Food Group
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Amundi increased its position in Performance Food Group by 154.3% during the 1st quarter. Amundi now owns 5,905 shares of the food distribution company's stock valued at $506,000 after purchasing an additional 3,583 shares during the period. California State Teachers Retirement System increased its position in Performance Food Group by 23.8% during the 1st quarter. California State Teachers Retirement System now owns 183,693 shares of the food distribution company's stock valued at $15,735,000 after purchasing an additional 35,328 shares during the period. The Manufacturers Life Insurance Company increased its position in Performance Food Group by 15.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 104,201 shares of the food distribution company's stock valued at $8,926,000 after purchasing an additional 14,241 shares during the period. Luxor Capital Group LP purchased a new position in Performance Food Group during the 1st quarter valued at $32,397,000. Finally, Bollard Group LLC purchased a new position in Performance Food Group during the 1st quarter valued at $2,346,000. 96.87% of the stock is owned by hedge funds and other institutional investors.
About Performance Food Group
(
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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