Erika Davis Sells 2,595 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider Erika Davis sold 2,595 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $110.00, for a total transaction of $285,450.00. Following the completion of the sale, the insider directly owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. The trade was a 6.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Performance Food Group Trading Down 0.8%

PFGC opened at $111.79 on Wednesday. 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’s 50 day moving average price is $97.37 and its 200-day moving average price is $93.32. Performance Food Group Company has a one year low of $80.82 and a one year high of $112.76. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 53.24, a P/E/G ratio of 1.76 and a beta of 0.93.

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

Institutional Trading of Performance Food Group

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Performance Food Group during the 4th quarter worth about $208,170,000. Wellington Management Group LLP raised its holdings in shares of Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after purchasing an additional 1,964,799 shares in the last quarter. Invesco Ltd. lifted its position in shares of Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after purchasing an additional 1,168,869 shares during the period. Eminence Capital LP lifted its position in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after purchasing an additional 998,249 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Performance Food Group during the fourth quarter valued at approximately $81,020,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of recent analyst reports. Guggenheim boosted their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Citigroup boosted their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.