Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells 1,750 Shares of Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,750 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $183,750.00. Following the completion of the sale, the insider owned 43,041 shares of the company’s stock, valued at $4,519,305. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Performance Food Group Stock Up 0.1%

Shares of PFGC stock traded up $0.06 during mid-day trading on Monday, hitting $104.13. The stock had a trading volume of 1,510,628 shares, compared to its average volume of 2,085,358. The firm has a market capitalization of $16.36 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 1.63 and a beta of 0.93. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $109.05. The firm’s 50-day moving average is $92.92 and its two-hundred day moving average is $92.32.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same period in the prior year, the company posted $0.79 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup boosted their price target on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Barclays boosted their price target on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.00.

Institutional Trading of Performance Food Group

A number of hedge funds have recently modified their holdings of PFGC. Goldman Sachs Group Inc. boosted its stake in shares of Performance Food Group by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after buying an additional 184,066 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Performance Food Group in the first quarter worth about $359,000. EverSource Wealth Advisors LLC boosted its stake in shares of Performance Food Group by 440.2% in the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after buying an additional 537 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Performance Food Group in the second quarter worth about $230,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Performance Food Group by 499.5% in the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock worth $28,764,000 after buying an additional 273,997 shares during the last quarter. Hedge funds and other institutional investors 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.