Performance Food Group (NYSE:PFGC) Insider Chasity Grosh Sells 1,005 Shares of Stock

Key Points

• Insider sale: Chasity Grosh sold 1,005 Performance Food Group shares for approximately $92,862 at an average price of $92.40, reducing her ownership by 14.81% to 5,783 shares.
• Stock performance and earnings: PFGC traded near $91.64, within a 12-month range of $80.82 to $117.47. Its latest quarterly EPS of $1.59 slightly missed estimates, while revenue rose 6.7% year over year to $18.03 billion.
• Analyst sentiment remains positive: Twelve analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $126.40. Institutional investors own 96.87% of the company.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider Chasity Grosh sold 1,005 shares of the business's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $92.40, for a total transaction of $92,862.00. Following the completion of the sale, the insider owned 5,783 shares in the company, valued at approximately $534,349.20. This trade represents a 14.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Performance Food Group Price Performance

Performance Food Group stock traded down $0.35 during mid-day trading on Wednesday, hitting $91.64. The company's stock had a trading volume of 1,405,196 shares, compared to its average volume of 1,902,378. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $14.44 billion, a P/E ratio of 40.02, a P/E/G ratio of 1.18 and a beta of 0.88. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. The stock's fifty day moving average price is $102.66 and its two-hundred day moving average price is $98.68.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.Performance Food Group's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Research analysts forecast that Performance Food Group Company will post 5.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFGC. Morgan Stanley increased their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Citigroup upped their target price on Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. UBS Group reduced 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. Finally, Guggenheim boosted their price target on Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $126.40.

Hedge Funds Weigh In On Performance Food Group

Institutional investors have recently modified their holdings of the company. Capital World Investors grew its stake in Performance Food Group by 1.0% in the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company's stock valued at $2,037,910,000 after buying an additional 216,720 shares during the last quarter. BlackRock Inc. acquired a new position in Performance Food Group during the 2nd quarter worth $1,576,983,000. Geode Capital Management LLC lifted its position in Performance Food Group by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company's stock worth $252,207,000 after acquiring an additional 36,031 shares during the last quarter. Primecap Management Co. CA bought a new stake in Performance Food Group during the second quarter valued at about $305,064,000. Finally, Eminence Capital LP boosted its holdings in Performance Food Group by 60.5% during the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company's stock valued at $238,050,000 after acquiring an additional 998,249 shares during the period. Institutional investors own 96.87% of the company's stock.

About Performance Food Group

Performance Food Group Co NYSE: PFGC is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC's foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.

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