Performance Food Group (NYSE:PFGC) Insider Sells $836,076.83 in Stock

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 8,023 shares of Performance Food Group stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $104.21, for a total value of $836,076.83. Following the completion of the transaction, the insider owned 47,800 shares in the company, valued at $4,981,238. This trade represents a 14.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, August 25th, A Brent King sold 1,320 shares of Performance Food Group stock. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80.
• On Friday, August 21st, A Brent King sold 1,178 shares of Performance Food Group stock. The shares were sold at an average price of $104.43, for a total transaction of $123,018.54.
• On Tuesday, August 18th, A Brent King sold 1,529 shares of Performance Food Group stock. The shares were sold at an average price of $104.64, for a total transaction of $159,994.56.
• On Friday, June 12th, A Brent King sold 6,111 shares of Performance Food Group stock. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00.
• On Tuesday, June 9th, A Brent King sold 3,322 shares of Performance Food Group stock. The stock was sold at an average price of $100.00, for a total transaction of $332,200.00.
• On Wednesday, June 10th, A Brent King sold 3,518 shares of Performance Food Group stock. The shares were sold at an average price of $100.00, for a total transaction of $351,800.00.
• On Monday, June 1st, A Brent King sold 5,641 shares of Performance Food Group stock. The shares were sold at an average price of $96.63, for a total transaction of $545,089.83.

Performance Food Group Price Performance

NYSE PFGC opened at $102.50 on Thursday. The firm’s fifty day simple moving average is $110.12 and its two-hundred day simple moving average is $98.52. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The firm 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.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $18.11 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter 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 fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PFGC. Wells Fargo & Company increased their price objective on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley lifted their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 target price on shares of Performance Food Group in a research report on Thursday, August 13th. Citigroup lifted 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. Finally, TD Cowen cut their price objective on Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFGC. Capital World Investors grew its position in Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after purchasing an additional 216,720 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Performance Food Group by 10,766.1% in the 2nd quarter. California State Teachers Retirement System now owns 19,960,216 shares of the food distribution company’s stock valued at $2,231,353,000 after buying an additional 19,776,523 shares during the period. BlackRock Inc. purchased a new stake in shares of Performance Food Group in the second quarter worth about $1,576,983,000. Wellington Management Group LLP boosted its stake in shares of Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Performance Food Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after acquiring an additional 36,031 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group News Summary

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.

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.