Kimberly Grant Sells 2,500 Shares of Performance Food Group (NYSE:PFGC) Stock

Key Points

• Director Kimberly Grant sold 2,500 shares of Performance Food Group at an average price of $95.00, totaling $237,500. After the transaction, she still held 11,935 shares, reducing her ownership by 17.32%.
• Performance Food Group beat quarterly estimates, reporting earnings of $0.80 per share versus the $0.77 consensus and revenue of $16.29 billion versus expectations of $16.17 billion. Revenue rose 6.4% year over year.
• Analysts remain constructive on PFGC, with 10 Buy ratings and 2 Hold ratings, a consensus “Moderate Buy,” and an average price target of $119.00. Barclays recently raised its target to $115.00 while maintaining an overweight rating.

Performance Food Group Company (NYSE:PFGC - Get Free Report) Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director owned 11,935 shares in the company, valued at approximately $1,133,825. This trade represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Performance Food Group Price Performance

NYSE PFGC traded up $0.59 during trading hours on Thursday, reaching $95.22. 2,413,179 shares of the company's stock were exchanged, compared to its average volume of 2,189,287. The stock has a market cap of $14.96 billion, a PE ratio of 45.34, a price-to-earnings-growth ratio of 1.47 and a beta of 0.92. Performance Food Group Company has a one year low of $80.82 and a one year high of $109.05. The firm has a fifty day moving average of $88.76 and a 200-day moving average of $92.14. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. On average, equities research analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of research analyst reports. Barclays increased their price target on Performance Food Group from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Zacks Research upgraded Performance Food Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Morgan Stanley decreased their price objective on Performance Food Group from $123.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, February 5th. UBS Group decreased their price objective on Performance Food Group from $120.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a research report on Friday, March 27th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Performance Food Group has an average rating of "Moderate Buy" and a consensus price target of $119.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Performance Food Group by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company's stock valued at $1,134,000 after purchasing an additional 113 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Performance Food Group by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company's stock valued at $3,372,000 after purchasing an additional 121 shares during the period. HB Wealth Management LLC lifted its stake in shares of Performance Food Group by 3.8% in the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company's stock valued at $285,000 after purchasing an additional 122 shares during the period. Arax Advisory Partners lifted its stake in shares of Performance Food Group by 7.4% in the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company's stock valued at $184,000 after purchasing an additional 140 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Performance Food Group by 16.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company's stock valued at $91,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds 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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