A Brent King Sells 1,178 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 1,178 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $104.43, for a total value of $123,018.54. Following the transaction, the insider directly owned 46,622 shares of the company’s stock, valued at $4,868,735.46. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 stock was sold at an average price of $105.29, for a total value of $138,982.80.
• On Thursday, August 20th, A Brent King sold 8,023 shares of Performance Food Group stock. The shares were sold at an average price of $104.21, for a total value of $836,076.83.
• On Tuesday, August 18th, A Brent King sold 1,529 shares of Performance Food Group stock. The stock was sold at an average price of $104.64, for a total value of $159,994.56.
• On Friday, June 12th, A Brent King sold 6,111 shares of Performance Food Group stock. The shares were sold at an average price of $105.00, for a total value of $641,655.00.
• On Tuesday, June 9th, A Brent King sold 3,322 shares of Performance Food Group stock. The shares were 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 stock was 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 stock was sold at an average price of $96.63, for a total transaction of $545,089.83.

Performance Food Group Trading Down 0.8%

Shares of NYSE:PFGC opened at $104.94 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $110.14 and its 200 day moving average price is $98.43. The company has a market cap of $16.53 billion, a PE ratio of 45.82, a P/E/G ratio of 1.36 and a beta of 0.91. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47.

Performance Food Group (NYSE:PFGC) last posted its earnings results 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). The firm had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.Performance Food Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. Sell-side analysts anticipate that Performance Food Group Company will post 5.58 earnings per share for the current year.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds have recently modified their holdings of PFGC. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Performance Food Group in the second quarter valued at $1,867,000. California State Teachers Retirement System boosted its stake in Performance Food Group by 10,766.1% during the second 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 in the last quarter. HB Wealth Management LLC grew its holdings in Performance Food Group by 38.8% during the second quarter. HB Wealth Management LLC now owns 4,619 shares of the food distribution company’s stock worth $516,000 after acquiring an additional 1,291 shares during the period. AlphaGrep UK Ltd bought a new stake in Performance Food Group in the second quarter worth about $622,000. Finally, Nykredit A S bought a new stake in Performance Food Group in the second quarter worth about $678,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Performance Food Group

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

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott… on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PFGC. Weiss Ratings raised Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Wells Fargo & Company increased their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. TD Cowen cut their price objective on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.90.

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.