Performance Food Group (NYSE:PFGC) Insider Sells $159,994.56 in Stock

Key Points

• Insider sale: A Brent King sold 1,529 Performance Food Group shares for approximately $159,995, reducing his position by 2.96% while retaining 50,095 shares.
• Quarterly results: Performance Food Group reported $1.59 in EPS and $18.03 billion in revenue, narrowly missing analyst expectations, although revenue increased 6.7% year over year.
• Analyst outlook: The stock carries a “Moderate Buy” consensus rating from analysts, with an average price target of $126.90 versus its recent trading price near $104.

Performance Food Group Company (NYSE:PFGC - Get Free Report) insider A Brent King sold 1,529 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $104.64, for a total transaction of $159,994.56. Following the transaction, the insider directly owned 50,095 shares in the company, valued at $5,241,940.80. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, June 12th, A Brent King sold 6,111 shares of Performance Food Group stock. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00.
• On Tuesday, June 9th, A Brent King sold 3,322 shares of Performance Food Group stock. The shares were 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 shares were 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 Trading Up 0.7%

Shares of PFGC stock traded up $0.71 during mid-day trading on Thursday, hitting $104.05. 1,367,628 shares of the company's stock were exchanged, compared to its average volume of 1,976,401. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The stock has a 50-day simple moving average of $110.08 and a two-hundred day simple moving average of $98.13. 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 cap of $16.39 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.34 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 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 analysts' expectations of $18.11 billion. During the same period in the prior year, the firm earned $0.84 EPS. Performance Food Group's revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $133.00 price objective on shares of Performance Food Group in a research note on Thursday, August 13th. UBS Group cut their target price on Performance Food Group from $132.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Guggenheim lifted their target price on Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, June 29th. Finally, Weiss Ratings raised Performance Food Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and an average price target of $126.90.

Institutional Investors Weigh In On Performance Food Group

Several large investors have recently made changes to their positions in PFGC. Cedar Mountain Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter valued at $28,000. Asset Planning Inc acquired a new stake in Performance Food Group in the 1st quarter valued at $35,000. Torren Management LLC purchased a new position in Performance Food Group in the fourth quarter valued at about $41,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Performance Food Group in the second quarter valued at about $51,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Performance Food Group during the fourth quarter worth about $43,000. 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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