Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells $159,994.56 in Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 1,529 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $104.64, for a total transaction of $159,994.56. Following the completion of the sale, the insider directly owned 52,963 shares of the company’s stock, valued at $5,542,048.32. The trade was a 2.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Performance Food Group Price Performance

NYSE PFGC opened at $104.99 on Friday. The company has a market cap of $16.54 billion, a PE ratio of 45.85, a P/E/G ratio of 1.35 and a beta of 0.91. The firm’s 50 day moving average price is $110.09 and its 200-day moving average price is $98.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $117.47.

Performance Food Group (NYSE:PFGC) 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 business had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Sell-side analysts forecast that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PFGC. Guggenheim upped their price objective on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Wells Fargo & Company boosted their target price on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Morgan Stanley increased their price target on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Institutional Trading of Performance Food Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaGrep UK Ltd acquired a new position in shares of Performance Food Group in the 2nd quarter valued at about $622,000. Nykredit A S acquired a new position in shares of Performance Food Group during the 2nd quarter worth approximately $678,000. Susquehanna Fundamental Investments LLC purchased a new stake in Performance Food Group in the 2nd quarter worth $1,851,000. Cookson Peirce & Co. Inc. increased its holdings in Performance Food Group by 8.4% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,103 shares of the food distribution company’s stock worth $459,000 after acquiring an additional 318 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Performance Food Group by 2.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,472 shares of the food distribution company’s stock worth $835,000 after acquiring an additional 175 shares during the period. 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.