Performance Food Group (NYSE:PFGC) Insider Sells $169,611.29 in Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 1,843 shares of Performance Food Group stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider directly owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Performance Food Group Stock Up 0.3%

Shares of PFGC stock traded up $0.30 on Wednesday, hitting $90.31. The stock had a trading volume of 2,336,143 shares, compared to its average volume of 2,981,337. The business has a 50 day moving average price of $92.74 and a 200 day moving average price of $97.62. Performance Food Group Company has a one year low of $68.39 and a one year high of $109.05. The company has a market cap of $14.16 billion, a PE ratio of 41.05, a P/E/G ratio of 1.29 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.09). The business had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Research analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFGC. Zacks Research downgraded shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Barclays lowered their target price on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Piper Sandler cut their price target on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Performance Food Group has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Institutional Trading of Performance Food Group

Several institutional investors have recently modified their holdings of PFGC. Norges Bank purchased a new position in shares of Performance Food Group in the 4th quarter valued at about $208,170,000. Wellington Management Group LLP grew its holdings in shares of Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Performance Food Group in the third quarter valued at approximately $152,717,000. Invesco Ltd. increased its stake in Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after buying an additional 1,168,869 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Performance Food Group during the fourth quarter worth about $81,020,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.