Erika Davis Sells 1,178 Shares of Performance Food Group (NYSE:PFGC) Stock

Key Points

• Insider sale: Erika Davis sold 1,178 Performance Food Group shares for approximately $123,007 at an average price of $104.42, reducing her ownership by 2.68% to 42,808 shares.
• Stock and earnings: PFGC shares rose 0.9% to $105.89. The company reported quarterly revenue of $18.03 billion and EPS of $1.59, slightly below analyst expectations, while revenue increased 6.7% year over year.
• Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with 11 Buy ratings and two Holds and an average price target of $126.90. Institutional investors own 96.87% of the company.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Erika Davis sold 1,178 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $104.42, for a total transaction of $123,006.76. Following the transaction, the insider owned 42,808 shares in the company, valued at $4,470,011.36. The trade was a 2.68% 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 link.

Performance Food Group Trading Up 0.9%

Shares of PFGC traded up $0.91 during mid-day trading on Monday, reaching $105.89. The company's stock had a trading volume of 1,314,810 shares, compared to its average volume of 1,969,529. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $117.47. The stock has a market cap of $16.68 billion, a PE ratio of 46.24, a P/E/G ratio of 1.35 and a beta of 0.91. The company's fifty day moving average price is $110.09 and its two-hundred day moving average price is $98.26. 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 (NYSE:PFGC - Get Free Report) last released 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 business had revenue of $18.03 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.84 EPS. On average, analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PFGC shares. UBS Group lowered their target price on Performance Food Group from $132.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Morgan Stanley boosted their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Guggenheim raised their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and a consensus target price of $126.90.

Institutional Investors Weigh In On Performance Food Group

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings 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 worth $2,231,353,000 after acquiring an additional 19,776,523 shares during the period. BlackRock Inc. purchased a new position in shares of Performance Food Group in the 2nd quarter valued at approximately $1,576,983,000. Primecap Management Co. CA bought a new stake in shares of Performance Food Group during the second quarter valued at approximately $305,064,000. Norges Bank purchased a new stake in Performance Food Group in the fourth quarter worth $208,170,000. Finally, Wellington Management Group LLP grew its stake in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the period. Institutional investors own 96.87% of the company's stock.

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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