Chasity Grosh Sells 643 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Chasity Grosh sold 643 shares of Performance Food Group stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $104.42, for a total transaction of $67,142.06. Following the transaction, the insider owned 7,222 shares of the company’s stock, valued at $754,121.24. This represents a 8.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Performance Food Group Trading Down 0.8%

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

Performance Food Group (NYSE:PFGC) last released 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). The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. 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 firm posted $0.84 EPS. As a group, research analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PFGC. California State Teachers Retirement System increased its position in shares of Performance Food Group by 10,766.1% during 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 purchasing an additional 19,776,523 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Performance Food Group during the 2nd quarter worth $1,576,983,000. Primecap Management Co. CA purchased a new position in shares of Performance Food Group in the 2nd quarter worth about $305,064,000. Norges Bank purchased a new position in shares of Performance Food Group in the 4th quarter worth about $208,170,000. Finally, Wellington Management Group LLP grew its position in Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after buying an additional 1,964,799 shares during the period. Institutional investors own 96.87% of the company’s stock.

Key Stories Impacting 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PFGC. Barclays upped their price target on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Citigroup lifted their price objective on shares of Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 target price on shares of Performance Food Group in a report on Thursday, August 13th. Finally, TD Cowen reduced their price objective on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.90.

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.