Erika Davis Sells 2,595 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 2,595 shares of Performance Food Group stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. This represents a 6.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Performance Food Group Trading Up 1.7%

NYSE:PFGC traded up $1.90 on Monday, reaching $112.34. The stock had a trading volume of 2,041,472 shares, compared to its average volume of 2,051,564. The company has a market cap of $17.65 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 1.73 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. The firm’s fifty day moving average is $96.53 and its two-hundred day moving average is $93.06. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $112.76.

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

Institutional Investors Weigh In On Performance Food Group

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Performance Food Group in the 4th quarter worth $208,170,000. Wellington Management Group LLP increased its position 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 acquiring an additional 1,964,799 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. Eminence Capital LP lifted its stake in shares of Performance Food Group by 60.5% in the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after acquiring an additional 998,249 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Performance Food Group in the fourth quarter valued at about $81,020,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on PFGC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Guggenheim upped their target price on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday. Barclays increased their target price 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, Citigroup boosted their price target on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Performance Food Group Company Profile

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.