Insider Selling: Performance Food Group (NYSE:PFGC) Director Sells 4,000 Shares of Stock

Performance Food Group (NYSE:PFGC) Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Performance Food Group Stock Performance

Shares of NYSE:PFGC traded down $0.68 during midday trading on Thursday, reaching $73.64. 715,505 shares of the company’s stock traded hands, compared to its average volume of 1,068,678. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The stock has a 50 day moving average of $66.85 and a 200 day moving average of $70.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 0.92 and a beta of 1.42.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, equities research analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFGC. BMO Capital Markets boosted their price target on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays upped their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley decreased their price target on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group has an average rating of “Moderate Buy” and an average price target of $86.38.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PFGC. Cetera Investment Advisers increased its position in shares of Performance Food Group by 0.4% during the second quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after acquiring an additional 186 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after acquiring an additional 372,218 shares during the last quarter. Quarry LP raised its holdings in shares of Performance Food Group by 114.4% in the second quarter. Quarry LP now owns 2,513 shares of the food distribution company’s stock worth $166,000 after buying an additional 1,341 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Performance Food Group by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock valued at $469,000 after purchasing an additional 160 shares during the last quarter. Finally, Creative Planning lifted its stake in Performance Food Group by 102.7% during the 2nd quarter. Creative Planning now owns 11,544 shares of the food distribution company’s stock valued at $763,000 after acquiring an additional 5,849 shares during the period. Institutional investors own 96.87% of the company’s stock.

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.