Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells $67,142.06 in Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 643 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $67,142.06. Following the sale, the insider directly owned 7,222 shares of the company’s stock, valued at approximately $754,121.24. This represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Performance Food Group Stock Performance

Shares of PFGC opened at $102.50 on Thursday. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $117.47. The stock has a market capitalization of $16.15 billion, a P/E ratio of 44.76, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. The company’s fifty day moving average is $110.12 and its two-hundred day moving average is $98.52.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. On average, sell-side analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PFGC. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. TD Cowen cut their price objective on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Morgan Stanley increased their target price on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Citigroup raised their price target on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.90.

More Performance Food Group News

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

• Positive Sentiment: Fiscal fourth-quarter sales increased 6.4% year over year to $18.03 billion, with total case volume up 3.5% and organic case volume up 1.8%. Net income rose 23.4% to $162.3 million, indicating that growth was supported by demand as well as pricing. Performance Food sales and earnings article
• Positive Sentiment: Wall Street’s outlook remains constructive, with 11 analysts rating PFGC a Buy and two rating it a Hold. The consensus rating is “Moderate Buy,” with an average price target of $126.90, supported by recent target increases from several firms.
• Neutral Sentiment: Institutional investors own approximately 96.9% of the stock, and several major funds recently increased or initiated positions. This may provide longer-term support, although the reported holdings changes do not necessarily indicate a near-term trading catalyst.
• Neutral Sentiment: A board member recently resigned, but no reason was disclosed. Without additional details, the immediate effect on PFGC’s outlook is unclear. Performance Food Group board resignation
• Negative Sentiment: Several insiders sold shares between August 20 and 25. Notable transactions included Donald S. Bulmer’s sale of 10,535 shares for approximately $1.12 million, alongside additional sales by A. Brent King, Erika T. Davis and Chasity Grosh. The concentrated selling may weigh on sentiment, even though insider sales can reflect personal or compensation-related decisions. Performance Food Group insider sales
• Negative Sentiment: The latest quarter narrowly missed consensus expectations for both EPS and revenue. Product-cost inflation of approximately 4.7% also raises questions about how much sales growth reflects pricing rather than underlying demand. With PFGC trading below its 50-day moving average and at a relatively high earnings multiple, investors may be more sensitive to modest misses.

Hedge Funds Weigh In On Performance Food Group

A number of large investors have recently bought and sold shares of PFGC. BlackRock Inc. acquired a new position in shares of Performance Food Group in the 2nd quarter valued at about $1,576,983,000. Goldman Sachs Group Inc. grew its holdings in shares of Performance Food Group by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock worth $125,972,000 after purchasing an additional 121,202 shares during the period. Kennedy Capital Management LLC increased its position in Performance Food Group by 7.3% during the 4th quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock worth $18,645,000 after purchasing an additional 14,173 shares in the last quarter. Hsbc Holdings PLC increased its position in Performance Food Group by 30.9% during the 4th quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock worth $4,408,000 after purchasing an additional 11,569 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 approximately $81,020,000. Hedge funds and other institutional investors 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.