Chasity Grosh Sells 838 Shares of Performance Food Group (NYSE:PFGC) Stock

Key Points

• Insider sale: Chasity Grosh sold 838 Performance Food Group shares for approximately $87,688, reducing her direct ownership by 9.33% to 8,142 shares.
• Recent performance: PFGC shares traded at $104.05, while the company’s latest quarterly EPS of $1.59 slightly missed estimates and revenue reached $18.03 billion, up 6.7% year over year.
• Analyst sentiment remains positive: Eleven analysts rate the stock Buy and two rate it Hold, with a consensus “Moderate Buy” rating and average price target of $126.90; institutional investors own 96.87% of shares.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Chasity Grosh sold 838 shares of Performance Food Group stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $104.64, for a total transaction of $87,688.32. Following the transaction, the insider directly owned 8,142 shares in the company, valued at approximately $851,978.88. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Performance Food Group Trading Up 0.7%

Shares of Performance Food Group stock traded up $0.71 during trading hours on Thursday, hitting $104.05. The company's stock had a trading volume of 1,367,628 shares, compared to its average volume of 1,976,401. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The business has a fifty day moving average of $110.08 and a 200 day moving average of $98.13. The company has a market capitalization of $16.39 billion, a PE ratio of 45.44, a P/E/G ratio of 1.34 and a beta of 0.91. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.01). The business had revenue of $18.03 billion during the quarter, compared to analysts' expectations of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business's revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. As a group, equities analysts forecast that Performance Food Group Company will post 5.58 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Performance Food Group in the second quarter worth about $1,576,983,000. Primecap Management Co. CA bought a new position in Performance Food Group during the 2nd quarter worth approximately $305,064,000. Norges Bank acquired a new position in shares of Performance Food Group in the 4th quarter worth approximately $208,170,000. Wellington Management Group LLP increased 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 acquiring an additional 1,964,799 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company's stock valued at $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PFGC shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Wells Fargo & Company raised their target price on Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Weiss Ratings raised Performance Food Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Guggenheim boosted their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, UBS Group decreased their price target on Performance Food Group from $132.00 to $130.00 and set a "buy" rating for the company in a report on Friday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average 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.

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