Performance Food Group (NYSE:PFGC) Insider Sells $297,540.00 in Stock

Performance Food Group Company (NYSE:PFGC) insider Hugh Hatcher sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the sale, the insider owned 58,167 shares of the company’s stock, valued at approximately $5,769,003.06. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Performance Food Group Stock Performance

NYSE:PFGC opened at $98.60 on Friday. The company’s 50-day moving average is $109.33 and its two-hundred day moving average is $98.78. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 1.27 and a beta of 0.88.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen decreased their target price on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. UBS Group decreased their price objective 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. Morgan Stanley lifted their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, Guggenheim lifted their price objective on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Hedge Funds Weigh In On Performance Food Group

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Performance Food Group during the 2nd quarter worth about $1,576,983,000. Goldman Sachs Group Inc. boosted its holdings in Performance Food Group by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock valued at $125,972,000 after purchasing an additional 121,202 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Performance Food Group by 7.3% in the fourth quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock valued at $18,645,000 after purchasing an additional 14,173 shares during the last quarter. Hsbc Holdings PLC increased its stake in Performance Food Group by 30.9% in the fourth quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock valued at $4,408,000 after purchasing an additional 11,569 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Performance Food Group during the fourth quarter worth approximately $81,020,000. Institutional investors and hedge funds 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.