Chasity Grosh Sells 838 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 838 shares of the business’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 value of $87,688.32. Following the sale, the insider owned 8,142 shares of the company’s stock, valued at approximately $851,978.88. This represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $104.99 on Friday. The firm has a market cap of $16.54 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The business’s 50 day moving average is $110.09 and its 200-day moving average is $98.24.

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 the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The firm had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on PFGC shares. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a report on Thursday, August 13th. Guggenheim increased their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. UBS Group lowered their target price on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Morgan Stanley boosted their price target on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Performance Food Group during the second quarter worth about $1,576,983,000. Primecap Management Co. CA acquired a new position in shares of Performance Food Group in the 2nd quarter valued at approximately $305,064,000. Norges Bank bought a new stake in shares of Performance Food Group during the 4th quarter worth approximately $208,170,000. Wellington Management Group LLP boosted its position in shares of Performance Food Group by 46.2% during the 3rd 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 in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Performance Food Group by 79.1% during the 3rd 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. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.