Erika Davis Sells 8,008 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 8,008 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $834,513.68. Following the transaction, the insider owned 43,986 shares in the company, valued at $4,583,781.06. The trade was a 15.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Performance Food Group Stock Down 0.8%

PFGC opened at $104.94 on Wednesday. The stock has a fifty day moving average of $110.14 and a 200-day moving average of $98.43. The company has a market capitalization of $16.53 billion, a P/E ratio of 45.82, a P/E/G ratio of 1.36 and a beta of 0.91. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. 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 (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 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 business had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that Performance Food Group Company will post 5.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PFGC. Morgan Stanley raised their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a research note on Thursday, August 13th. Guggenheim increased their price target on 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 price objective on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Weiss Ratings raised Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.90.

Performance Food Group News Summary

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott… on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

Institutional Investors Weigh In On Performance Food Group

A number of large investors have recently bought and sold shares of PFGC. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Performance Food Group in the 2nd quarter valued at about $1,867,000. California State Teachers Retirement System lifted its holdings in shares of Performance Food Group by 10,766.1% during the 2nd quarter. California State Teachers Retirement System now owns 19,960,216 shares of the food distribution company’s stock worth $2,231,353,000 after acquiring an additional 19,776,523 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Performance Food Group by 38.8% during the 2nd quarter. HB Wealth Management LLC now owns 4,619 shares of the food distribution company’s stock worth $516,000 after acquiring an additional 1,291 shares during the period. AlphaGrep UK Ltd acquired a new stake in shares of Performance Food Group during the 2nd quarter worth approximately $622,000. Finally, Nykredit A S acquired a new stake in shares of Performance Food Group during the 2nd quarter worth approximately $678,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.