A Brent King Sells 8,023 Shares of Performance Food Group (NYSE:PFGC) Stock

Key Points

• Insider selling: A. Brent King sold 8,023 Performance Food Group shares at an average price of $104.21, generating approximately $836,077. Following the transaction, King retained 47,800 shares, a 14.37% reduction in holdings.
• Quarterly results: Performance Food Group reported $1.59 in quarterly EPS, narrowly missing the $1.60 analyst consensus, while revenue rose 6.7% year over year to $18.03 billion.
• Analyst outlook remains positive: Eleven analysts rate PFGC a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $126.90 versus the reported share price of $105.89.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider A Brent King sold 8,023 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $836,076.83. Following the completion of the sale, the insider owned 47,800 shares of the company's stock, valued at approximately $4,981,238. The trade was a 14.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, August 21st, A Brent King sold 1,178 shares of Performance Food Group stock. The stock was 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 value 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 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 value 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 value 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 value of $545,089.83.

Performance Food Group Price Performance

Shares of NYSE PFGC traded up $0.91 during trading on Monday, reaching $105.89. The company had a trading volume of 1,314,810 shares, compared to its average volume of 1,969,529. 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 twelve month low of $80.82 and a twelve month high of $117.47. The stock has a 50-day moving average price of $110.09 and a two-hundred day moving average price of $98.26. The stock has a market capitalization of $16.68 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data 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). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm's revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Institutional Trading of Performance Food Group

Institutional investors have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC acquired a new position in Performance Food Group in the first quarter valued at $28,000. Asset Planning Inc purchased a new position in shares of Performance Food Group in the 1st quarter worth about $35,000. Torren Management LLC purchased a new position in shares of Performance Food Group in the 4th quarter worth about $41,000. Lloyd Advisory Services LLC. acquired a new position in shares of Performance Food Group in the 4th quarter valued at about $43,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Performance Food Group in the 2nd quarter valued at about $51,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFGC has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Guggenheim lifted their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. BMO Capital Markets reiterated an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. TD Cowen reduced their price target on 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, Citigroup raised their price objective on Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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