Performance Food Group exec sells shares worth $1.79 million

RICHMOND, Va.—King A. , Executive Vice President, General Counsel, and Secretary of Performance Food Group Co (NYSE:NYSE:), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On November 18, Brent sold a total of 21,399 shares at prices ranging from $83.41 to $83.79, resulting in a total transaction value of approximately $1.79 million.

In addition to these sales, Brent also exercised stock options to acquire 21,399 shares at prices ranging from $25.74 to $26.57, totaling $567,147. The transactions were executed under a Rule 10b5-1 trading plan established in August 2024, which allows insiders to set up a predetermined plan for selling stocks.

Following these transactions, Brent holds a total of 76,873 shares of Performance Food Group.

In other recent news, Performance Food Group (PFG) has seen a revision in its stock target, following the company's updated Fiscal 2025 guidance, which now includes the impact of the Cheney Brothers acquisition. Piper Sandler, a financial services firm, increased its price target on PFG shares to $92, up from the previous $79, maintaining an Overweight rating on the stock. The upward adjustment in the Fiscal 2025 and Fiscal 2026 adjusted EBITDA estimates is attributed to the integration of the Cheney Brothers acquisition into PFG's financial outlook.

Furthermore, Piper Sandler has introduced its initial Fiscal 2027 estimates alongside this update. The new target price of $92 is based on PFG trading at approximately 10.5 times the firm's Fiscal 2026 adjusted EBITDA estimate. This reflects a roll-forward of the long-term valuation framework by one year to accommodate changes in net debt post-acquisition.

In other developments, PFG reported its fiscal Q1 2025 financial results, comparing them to the same period in the previous fiscal year. The earnings call, led by CEO George Holm and CFO Patrick Hatcher, included both GAAP and non-GAAP financial measures. The company also made forward-looking statements regarding future results, cautioning that these could differ due to various factors. As these are recent developments, investors are advised to consider these forward-looking statements with the understanding that they are subject to various influencing factors.

InvestingPro Insights

Performance Food Group Co (NYSE:PFGC) has been demonstrating strong financial performance, as evidenced by its recent stock price movements and insider transactions. According to InvestingPro data, the company's stock has shown impressive gains, with a 34.2% total return over the past year and a 20.71% return year-to-date. This positive momentum aligns with the company's solid revenue growth of 2.96% over the last twelve months, reaching $55.16 billion.

Despite the recent insider sale by Executive Vice President King A. Brent, InvestingPro Tips suggest that PFGC remains a prominent player in the Consumer Staples Distribution & Retail industry. The company's market capitalization stands at $12.9 billion, reflecting its significant presence in the sector. Additionally, PFGC's liquid assets exceed its short-term obligations, indicating a healthy financial position.

However, investors should note that PFGC is trading at a high P/E ratio of 30.28 relative to its near-term earnings growth, which may suggest the stock is currently overvalued. This is further supported by the PEG ratio of 42.36, indicating that the stock's price might be high compared to its earnings growth potential.

For those interested in a deeper analysis, InvestingPro offers 8 additional tips for Performance Food Group, providing a more comprehensive view of the company's financial health and market position.

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