Performance Food Group (NYSE:PFGC) Insider Hugh Patrick Hatcher Sells 3,000 Shares

Performance Food Group Company (NYSE:PFGC) insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the transaction, the insider directly owned 44,655 shares in the company, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Performance Food Group Stock Performance

Shares of PFGC opened at $95.93 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The stock has a 50 day moving average price of $88.16 and a two-hundred day moving average price of $92.26. The firm has a market capitalization of $15.07 billion, a P/E ratio of 45.68, a P/E/G ratio of 1.49 and a beta of 0.92. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $109.05.

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

Wall Street Analyst Weigh In

PFGC has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays raised 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 report on Thursday, May 7th. Morgan Stanley cut their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PFGC. PNC Financial Services Group Inc. raised its stake in shares of Performance Food Group by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock worth $1,134,000 after purchasing an additional 113 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Performance Food Group by 0.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after buying an additional 121 shares during the last quarter. HB Wealth Management LLC increased its holdings in Performance Food Group by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock worth $285,000 after buying an additional 122 shares during the last quarter. Arax Advisory Partners raised its position in Performance Food Group by 7.4% in the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock worth $184,000 after acquiring an additional 140 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Performance Food Group by 16.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after acquiring an additional 143 shares during the period. Institutional investors own 96.87% of the company’s stock.

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.