A Brent King Sells 8,023 Shares of Performance Food Group (NYSE:PFGC) Stock

Performance Food Group Company (NYSE:PFGC) insider A Brent King sold 8,023 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $836,076.83. Following the sale, the insider owned 47,800 shares of the company’s stock, valued at approximately $4,981,238. This represents a 14.37% decrease in their ownership of the stock. The sale 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, August 25th, A Brent King sold 1,320 shares of Performance Food Group stock. The shares were sold at an average price of $105.29, for a total value of $138,982.80.
• On Friday, August 21st, A Brent King sold 1,178 shares of Performance Food Group stock. The stock was sold at an average price of $104.43, for a total value of $123,018.54.
• On Tuesday, August 18th, A Brent King sold 1,529 shares of Performance Food Group stock. The stock was sold at an average price of $104.64, for a total value of $159,994.56.
• 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 value 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 Price Performance

Shares of PFGC opened at $104.94 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. The firm has a market cap of $16.53 billion, a PE ratio of 45.82, a PEG ratio of 1.36 and a beta of 0.91. The firm’s 50 day moving average price is $110.14 and its 200 day moving average price is $98.43. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. As a group, research analysts expect that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

Performance Food Group News Summary

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott… on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PFGC shares. Guggenheim boosted their target price on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. TD Cowen lowered their price target on Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Wells Fargo & Company upped their price objective on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in shares of Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after acquiring an additional 184,066 shares in the last quarter. Empowered Funds LLC acquired a new position in Performance Food Group in the first quarter worth about $359,000. EverSource Wealth Advisors LLC lifted its stake in Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 537 shares during the period. Marshall Wace LLP bought a new position in Performance Food Group during the second quarter worth about $230,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Performance Food Group by 499.5% during the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after purchasing an additional 273,997 shares in the last quarter. 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.