Insider Selling: Performance Food Group (NYSE:PFGC) Insider Sells 8,200 Shares of Stock

Performance Food Group (NYSE:PFGC - Get Free Report) insider Erika T. Davis sold 8,200 shares of Performance Food Group stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the transaction, the insider now directly owns 46,722 shares in the company, valued at $4,191,897.84. This represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Performance Food Group Stock Performance

NYSE PFGC traded up $0.29 during trading on Friday, hitting $89.58. 1,204,432 shares of the company's stock traded hands, compared to its average volume of 1,120,295. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.96 and a beta of 1.13. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The business has a 50 day moving average of $80.86 and a 200-day moving average of $83.57.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group lifted their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday. Sanford C. Bernstein set a $112.00 price objective on shares of Performance Food Group and gave the stock an "overweight" rating in a report on Thursday. Truist Financial cut their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Piper Sandler downgraded shares of Performance Food Group from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.08.

Institutional Investors Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Performance Food Group during the first quarter valued at about $7,524,000. Woodline Partners LP bought a new stake in shares of Performance Food Group during the first quarter valued at about $20,030,000. Empowered Funds LLC bought a new position in shares of Performance Food Group in the first quarter worth approximately $359,000. Coppell Advisory Solutions LLC increased its position in shares of Performance Food Group by 10,786.7% in the first quarter. Coppell Advisory Solutions LLC now owns 9,036 shares of the food distribution company's stock worth $711,000 after purchasing an additional 8,953 shares during the last quarter. Finally, Aristeia Capital L.L.C. increased its position in shares of Performance Food Group by 30.6% in the first quarter. Aristeia Capital L.L.C. now owns 5,070 shares of the food distribution company's stock worth $399,000 after purchasing an additional 1,189 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.