Key Points
- Insider sale: Performance Food Group insider A Brent King sold 6,111 shares on June 12 at an average price of $105.00, totaling $641,655. After the sale, he still owned 44,260 shares, a 12.13% reduction in his stake.
- Recent selling activity: King also sold shares on June 1, June 9, and June 10, indicating a pattern of insider selling over several sessions.
- Company backdrop: PFGC recently beat quarterly earnings and revenue expectations, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $119.00.
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 Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $183,750.00. Following the completion of the transaction, the insider directly owned 43,041 shares in the company, valued at approximately $4,519,305. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Performance Food Group Stock Up 0.1%
Shares of PFGC stock opened at $104.13 on Tuesday. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $109.05. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The firm has a market cap of $16.36 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.63 and a beta of 0.93. The stock has a 50 day moving average of $93.33 and a 200-day moving average of $92.37.
Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business 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%. Performance Food Group's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. On average, equities analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $123.00 price objective on shares of Performance Food Group in a research note on Thursday, May 7th. 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. Citigroup raised their price objective 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 reissued a "hold (c)" rating on shares of Performance Food Group in a report on Friday, March 27th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $119.00.
Read Our Latest Stock Report on PFGC
Institutional Trading of Performance Food Group
Several institutional investors have recently modified their holdings of PFGC. Goldman Sachs Group Inc. grew its holdings in shares of Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company's stock worth $62,266,000 after purchasing an additional 184,066 shares in the last quarter. Empowered Funds LLC acquired a new stake in Performance Food Group in the 1st quarter valued at $359,000. EverSource Wealth Advisors LLC boosted its stake 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 valued at $58,000 after buying an additional 537 shares in the last quarter. Marshall Wace LLP acquired a new stake in Performance Food Group in the 2nd quarter valued at $230,000. Finally, Qube Research & Technologies Ltd boosted its stake in Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company's stock valued at $28,764,000 after buying an additional 273,997 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.
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.
Further Reading
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