Erika Davis Sells 1,178 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,178 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $104.42, for a total transaction of $123,006.76. Following the completion of the transaction, the insider owned 42,808 shares in the company, valued at $4,470,011.36. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Performance Food Group Stock Down 0.8%

Performance Food Group stock opened at $104.94 on Wednesday. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 45.82, a P/E/G ratio of 1.36 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The firm has a fifty day moving average price of $110.14 and a two-hundred day moving average price of $98.43.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. As a group, analysts forecast that Performance Food Group Company will post 5.58 earnings per share for the current year.

Institutional Trading of Performance Food Group

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Performance Food Group during the second quarter valued at approximately $1,576,983,000. Goldman Sachs Group Inc. lifted its position in Performance Food Group by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock worth $125,972,000 after purchasing an additional 121,202 shares during the period. Kennedy Capital Management LLC boosted its stake in Performance Food Group by 7.3% during the fourth quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock worth $18,645,000 after buying an additional 14,173 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Performance Food Group by 30.9% during the fourth quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock worth $4,408,000 after buying an additional 11,569 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Performance Food Group in the 4th quarter valued at $81,020,000. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen cut their price target on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Barclays boosted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Guggenheim increased their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Wells Fargo & Company raised their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.

Trending Headlines about Performance Food Group

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott… on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

About Performance Food Group

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.