Key Points
- Insider Hugh Patrick Hatcher sold 3,000 PFGC shares at an average price of $99.18, generating $297,540 and reducing his ownership by 4.9% to 58,167 shares.
- Performance Food Group shares opened at $99.36, while the company’s latest quarterly results narrowly missed analyst estimates: $1.59 adjusted EPS versus $1.60 expected and $18.03 billion in revenue versus $18.11 billion expected.
- Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $126.90 price target; institutional investors own 96.87% of the company’s stock.
Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total value of $297,540.00. Following the transaction, the insider owned 58,167 shares in the company, valued at $5,769,003.06. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Performance Food Group Trading Up 0.2%
Shares of Performance Food Group stock opened at $99.36 on Thursday. The company has a market capitalization of $15.65 billion, a P/E ratio of 43.39, a P/E/G ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. The company has a fifty day moving average of $109.72 and a 200 day moving average of $98.77. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47.
Performance Food Group (NYSE:PFGC - Get Free Report) last posted its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.01). The company had revenue of $18.03 billion for the quarter, compared to analysts' expectations of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. On average, sell-side analysts anticipate that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Performance Food Group
Several institutional investors have recently made changes to their positions in PFGC. BlackRock Inc. purchased a new position in Performance Food Group in the second quarter valued at $1,576,983,000. Goldman Sachs Group Inc. boosted its stake in shares of Performance Food Group by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company's stock worth $125,972,000 after acquiring an additional 121,202 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of Performance Food Group by 7.3% during the 4th quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company's stock valued at $18,645,000 after acquiring an additional 14,173 shares during the period. Hsbc Holdings PLC grew its position in shares of Performance Food Group by 30.9% during the 4th quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company's stock valued at $4,408,000 after acquiring an additional 11,569 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Performance Food Group in the 4th quarter valued at about $81,020,000. 96.87% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on PFGC. BMO Capital Markets reissued an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Guggenheim upped their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $133.00 price objective on shares of Performance Food Group in a report on Thursday, August 13th. Morgan Stanley lifted their price target on Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and a consensus target price of $126.90.
Check Out Our Latest Stock 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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