Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells 6,111 Shares of Stock

Key Points

• Performance Food Group insider A. Brent King sold 6,111 shares on June 12 at an average price of $105, totaling about $641,655. After the sale, he still held 44,260 shares, and the transaction reduced his ownership by 12.13%.
• King also made several other recent sales, including 3,322 shares on June 9, 3,518 shares on June 10, and 5,641 shares on June 1. Together, the trades suggest a steady trimming of his stake in the company.
• PFGC shares were up slightly and the company’s fundamentals remain solid, with the stock trading around $104.13 near its 52-week high of $109.05. The company also recently beat quarterly EPS and revenue estimates, while analysts maintain a consensus Moderate Buy rating.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider A Brent King sold 6,111 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the transaction, the insider owned 44,260 shares of the company's stock, valued at approximately $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, June 9th, A Brent King sold 3,322 shares of Performance Food Group stock. The stock was 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 stock was 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 Stock Up 0.1%

Shares of NYSE:PFGC traded up $0.06 during mid-day trading on Monday, reaching $104.13. 1,510,628 shares of the stock were exchanged, compared to its average volume of 2,085,358. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The company has a market cap of $16.36 billion, a P/E ratio of 49.59, a P/E/G ratio of 1.63 and a beta of 0.93. Performance Food Group Company has a one year low of $80.82 and a one year high of $109.05. The stock's 50 day simple moving average is $92.92 and its 200-day simple moving average is $92.32.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.Performance Food Group's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $0.79 earnings per share. As a group, equities research analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PFGC. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Zacks Research upgraded Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, Citigroup lifted their target price on Performance Food Group from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.00.

Institutional Trading of Performance Food Group

Hedge funds have recently added to or reduced their stakes in the company. Amundi raised its holdings in Performance Food Group by 154.3% in the 1st quarter. Amundi now owns 5,905 shares of the food distribution company's stock valued at $506,000 after acquiring an additional 3,583 shares in the last quarter. California State Teachers Retirement System raised its holdings in Performance Food Group by 23.8% in the 1st quarter. California State Teachers Retirement System now owns 183,693 shares of the food distribution company's stock valued at $15,735,000 after acquiring an additional 35,328 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Performance Food Group by 15.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 104,201 shares of the food distribution company's stock valued at $8,926,000 after acquiring an additional 14,241 shares in the last quarter. Luxor Capital Group LP acquired a new position in Performance Food Group in the 1st quarter valued at $32,397,000. Finally, Bollard Group LLC acquired a new position in Performance Food Group in the 1st quarter valued at $2,346,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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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