Key Points
- Insider selling: Performance Food Group insider A Brent King sold 5,641 shares for about $545,090 at an average price of $96.63, reducing his stake by 8.98%.
- Recent earnings beat: The company reported quarterly EPS of $0.80, topping estimates of $0.77, while revenue of $16.29 billion also came in above expectations and rose 6.4% year over year.
- Analyst sentiment remains positive: Wall Street coverage is mostly bullish, with 10 Buy ratings and 2 Hold ratings, giving the stock a Moderate Buy consensus and a $119 average price target.
Performance Food Group Company (NYSE:PFGC - Get Free Report) insider A Brent King sold 5,641 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $96.63, for a total transaction of $545,089.83. Following the completion of the transaction, the insider directly owned 57,211 shares in the company, valued at approximately $5,528,298.93. The trade was a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Performance Food Group Trading Down 1.4%
Performance Food Group stock opened at $96.19 on Wednesday. The stock has a market cap of $15.11 billion, a P/E ratio of 45.80, a PEG ratio of 1.53 and a beta of 0.93. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05. The firm's fifty day moving average price is $90.24 and its 200-day moving average price is $92.07. 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 released its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share 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 analysts' expectations 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Equities research analysts forecast that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC bought a new position in Performance Food Group in the third quarter valued at $1,666,000. Maven Securities LTD bought a new position in Performance Food Group in the third quarter valued at $2,589,000. Close Asset Management Ltd boosted its position in Performance Food Group by 7.5% during the third quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company's stock valued at $216,536,000 after buying an additional 145,387 shares during the period. Assenagon Asset Management S.A. boosted its position in Performance Food Group by 10.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company's stock valued at $44,124,000 after buying an additional 45,867 shares during the period. Finally, Capital World Investors boosted its position in Performance Food Group by 0.8% during the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company's stock valued at $2,335,371,000 after buying an additional 185,624 shares during the period. Institutional investors own 96.87% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PFGC. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $123.00 price target on shares of Performance Food Group in a report on Thursday, May 7th. Citigroup upped their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Sanford C. Bernstein reissued an "outperform" rating on shares of Performance Food Group in a research note on Thursday, February 5th. Barclays increased their target price on Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Zacks Research raised Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.00.
Get Our Latest Stock Report on Performance Food Group
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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