Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Chasity Grosh sold 643 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $104.42, for a total transaction of $67,142.06. Following the sale, the insider directly owned 7,222 shares of the company's stock, valued at $754,121.24. This represents a 8.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Performance Food Group Stock Up 0.9%
PFGC opened at $105.89 on Tuesday. The company has a market cap of $16.68 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. The company has a 50-day moving average price of $110.13 and a 200 day moving average price of $98.33. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34.
Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $18.11 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company's quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts expect that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.
Performance Food Group News Summary
Here are the key news stories impacting Performance Food Group this week:
- Neutral Sentiment: Performance Food Group announced that board member Sc... resigned on August 24. The available report does not provide details on the reason for the departure, limiting the immediate assessment of its impact. Performance Food Group Announces Board Member Resignation
- Negative Sentiment: Several insiders sold a combined 19,030 shares in transactions executed August 20–21 at prices around $104.21–$104.43. While the sales are relatively small compared with the company’s overall market value, the concentration of selling may weigh on sentiment by signaling that insiders are reducing exposure. SEC insider trading filing SEC insider trading filing SEC insider trading filing
- Negative Sentiment: Erika T. Davis sold 9,186 shares for approximately $957,520, reducing her holdings by about 18.1% across the two reported transactions. A. Brent King sold 9,201 shares worth approximately $959,095, cutting his position by about 16.8%. Chasity D. Grosh sold 643 shares for roughly $67,142, an 8.2% reduction. These transactions are not necessarily evidence of deteriorating business conditions, as insiders may sell for personal or compensation-related reasons, but the timing and volume could create short-term selling pressure.
Analyst Ratings Changes
A number of analysts have recently issued reports on PFGC shares. Citigroup lifted their price target on Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. BMO Capital Markets restated an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. Weiss Ratings raised shares of Performance Food Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Wells Fargo & Company upped their target price on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $133.00 target price on shares of Performance Food Group in a research report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.90.
Get Our Latest Report on PFGC
Institutional Investors Weigh In On Performance Food Group
A number of large investors have recently made changes to their positions in PFGC. California State Teachers Retirement System increased its holdings in shares of Performance Food Group by 10,766.1% in the second 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 purchasing an additional 19,776,523 shares during the last quarter. BlackRock Inc. purchased a new position in Performance Food Group during the second quarter worth approximately $1,576,983,000. Primecap Management Co. CA acquired a new position in Performance Food Group during the second quarter worth $305,064,000. Norges Bank acquired a new position in Performance Food Group during the fourth quarter worth $208,170,000. Finally, Wellington Management Group LLP grew its holdings in Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock valued at $646,447,000 after buying an additional 1,964,799 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
Performance Food Group Company Profile
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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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