Key Points
- Insider sale: Performance Food Group insider Chasity Grosh sold 1,005 shares at an average price of $92.40, totaling $92,862. The transaction reduced her holdings by 14.81%, leaving 5,783 shares.
- Stock and earnings: PFGC opened at $91.64, below its 50-day and 200-day moving averages. Its latest quarterly results narrowly missed analyst expectations, with EPS of $1.59 versus $1.60 expected and revenue of $18.03 billion.
- Analyst outlook remains positive: Twelve analysts rate the stock Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $126.40. Institutional investors own approximately 96.87% of the company.
Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Chasity Grosh sold 1,005 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $92.40, for a total transaction of $92,862.00. Following the completion of the transaction, the insider owned 5,783 shares in the company, valued at $534,349.20. The trade was a 14.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Performance Food Group Stock Performance
NYSE:PFGC opened at $91.64 on Thursday. The firm's fifty day simple moving average is $102.26 and its 200 day simple moving average is $98.71. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 1.18 and a beta of 0.88.
Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.01). The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The company's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, equities research analysts expect that Performance Food Group Company will post 5.6 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Weiss Ratings raised Performance Food Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 24th. Morgan Stanley lifted their target price on Performance Food Group from $120.00 to $131.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Sanford C. Bernstein restated an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Citigroup increased their price objective on Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.40.
View Our Latest Stock Analysis on PFGC
Institutional Trading of Performance Food Group
A number of hedge funds have recently modified their holdings of PFGC. Cedar Mountain Advisors LLC acquired a new stake in Performance Food Group during the 1st quarter worth about $28,000. Asset Planning Inc bought a new stake in Performance Food Group in the first quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Performance Food Group during the 2nd quarter valued at about $51,000. Clearstead Advisors LLC grew its holdings in Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock valued at $53,000 after purchasing an additional 335 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new position in Performance Food Group in the 2nd quarter valued at $54,000. Hedge funds and other institutional investors own 96.87% of the company's stock.
Performance Food Group Company Profile
(
Get Free Report)
Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.
PFGC's foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
