Performance Food Group (NYSE:PFGC) Insider A Brent King Sells 3,518 Shares

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 3,518 shares of Performance Food Group stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $100.00, for a total transaction of $351,800.00. Following the sale, the insider owned 50,371 shares in the company, valued at approximately $5,037,100. This represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A Brent King also recently made the following trade(s):

• On Monday, June 1st, A Brent King sold 5,641 shares of Performance Food Group stock. The stock was sold at an average price of $96.63, for a total transaction of $545,089.83.

Performance Food Group Trading Up 1.0%

NYSE:PFGC traded up $1.00 during mid-day trading on Wednesday, hitting $100.76. 1,854,693 shares of the company’s stock were exchanged, compared to its average volume of 2,100,974. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05. The company has a 50 day simple moving average of $91.82 and a 200-day simple moving average of $92.15. The firm has a market capitalization of $15.83 billion, a P/E ratio of 47.98, a PEG ratio of 1.52 and a beta of 0.93.

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. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. During the same quarter last year, the business earned $0.79 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, research analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Performance Food Group in the 4th quarter valued at about $208,170,000. Wellington Management Group LLP raised its stake in Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares during the period. Invesco Ltd. raised its stake in Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares during the period. Eminence Capital LP raised its stake in Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after acquiring an additional 998,249 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Performance Food Group in the 4th quarter valued at about $81,020,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PFGC. Barclays boosted their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Citigroup boosted their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $119.00.

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.