Performance Food Group (NYSE:PFGC) Insider A Brent King Sells 5,641 Shares

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 5,641 shares of Performance Food Group stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $96.63, for a total value of $545,089.83. Following the transaction, the insider owned 57,211 shares of the company’s stock, valued at $5,528,298.93. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $96.19 on Wednesday. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $109.05. The stock’s 50 day moving average price is $90.24 and its 200-day moving average price is $92.07. The company has a market capitalization of $15.11 billion, a PE ratio of 45.80, a PEG ratio of 1.53 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PFGC shares. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. UBS Group dropped their price objective on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a research note on Thursday, May 7th. Morgan Stanley dropped their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Institutional Investors Weigh In On Performance Food Group

Institutional investors have recently made changes to their positions in the stock. AE Wealth Management LLC purchased a new stake in shares of Performance Food Group during the third quarter worth $1,666,000. Maven Securities LTD purchased a new stake in shares of Performance Food Group during the third quarter worth $2,589,000. Close Asset Management Ltd lifted its position in shares of Performance Food Group by 7.5% during the third quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company’s stock worth $216,536,000 after acquiring an additional 145,387 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Performance Food Group by 10.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company’s stock worth $44,124,000 after acquiring an additional 45,867 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Performance Food Group by 0.8% during the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock worth $2,335,371,000 after acquiring an additional 185,624 shares in the last quarter. Hedge funds and other institutional investors 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.