Hugh Patrick Hatcher Sells 3,000 Shares of Performance Food Group (NYSE:PFGC) Stock

Key Points

• Insider sale: Hugh Patrick Hatcher sold 3,000 Performance Food Group shares for approximately $297,540, reducing his position by 4.9% to 58,167 shares.
• Stock and earnings: PFGC shares rose 0.2% to $99.36, while the company narrowly missed quarterly EPS and revenue estimates despite 6.7% year-over-year revenue growth.
• Analyst outlook: Analysts maintain a favorable view, with a “Moderate Buy” consensus rating and an average price target of $126.90; institutional investors own 96.87% of the stock.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total value of $297,540.00. Following the completion of the transaction, the insider directly owned 58,167 shares in the company, valued at $5,769,003.06. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Performance Food Group Stock Up 0.2%

Performance Food Group stock traded up $0.15 during midday trading on Wednesday, reaching $99.36. The company's stock had a trading volume of 1,366,456 shares, compared to its average volume of 1,944,682. The business has a 50-day simple moving average of $109.86 and a 200-day simple moving average of $98.76. The company has a market cap of $15.65 billion, a P/E ratio of 43.39, a P/E/G ratio of 1.27 and a beta of 0.88. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. 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 announced 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). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. During the same period last year, the company earned $0.84 earnings per share. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts expect that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PFGC has been the subject of a number of research reports. Guggenheim boosted their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, June 29th. UBS Group dropped their price objective on Performance Food Group from $132.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Citigroup boosted their target price on Performance Food Group from $143.00 to $144.00 and gave the company a "buy" rating in a report on Thursday, August 13th. BMO Capital Markets reissued an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Performance Food Group has an average rating of "Moderate Buy" and a consensus target price of $126.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PFGC. Cedar Mountain Advisors LLC purchased a new stake in shares of Performance Food Group in the first quarter valued at about $28,000. Asset Planning Inc purchased a new position in shares of Performance Food Group during the first quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Performance Food Group during the second quarter worth about $51,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group in the 4th quarter valued at about $43,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Performance Food Group during the 2nd quarter valued at approximately $54,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

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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