Patrick T. Hagerty, Executive Vice President and Chief Commercial Officer of Performance Food Group Co (NYSE:PFGC), recently sold shares in a series of transactions on November 15, 2024. The sales, conducted under a Rule 10b5-1 trading plan, amounted to a total value of approximately $5.65 million. The shares were sold at prices ranging from $83.5 to $85.48 per share.
In addition to these sales, Hagerty also acquired shares through option exercises. These transactions involved acquiring common stock at prices between $19.0 and $26.57 per share, with a total value of approximately $1.43 million. Following the transactions, Hagerty holds 149,987 shares of Performance Food Group.
In other recent news, Performance Food Group has been under the financial microscope following its fiscal Q1 2025 results and the completion of the Cheney Brothers acquisition. Financial services firm Piper Sandler has increased its price target on shares of Performance Food Group to $92 from $79, maintaining an Overweight rating. This decision follows the updated Fiscal 2025 guidance, which now accounts for the impact of the recently completed acquisition.
The firm's analysts have revised the Fiscal 2025 and Fiscal 2026 adjusted EBITDA estimates upward, reflecting the integration of the acquisition into Performance Food Group's financial outlook. The new target is based on Performance Food Group trading at approximately 10.5 times the firm's Fiscal 2026 adjusted EBITDA estimate. They've also introduced initial Fiscal 2027 estimates alongside this update.
Performance Food Group also reported its fiscal Q1 2025 financial results, comparing them to the same period in the previous fiscal year. The earnings conference call, led by CEO George Holm and CFO Patrick Hatcher, included both GAAP and non-GAAP financial measures. As these are recent developments, investors are advised to consider the forward-looking statements with the understanding that they are subject to various influencing factors.
InvestingPro Insights
As Patrick T. Hagerty's recent transactions draw attention to Performance Food Group Co (NYSE:PFGC), it's worth examining some key financial metrics and insights provided by InvestingPro.
Performance Food Group has demonstrated strong market performance, with a one-year price total return of 33.76% as of the latest data. This impressive growth is reflected in the company's current market capitalization of $12.99 billion. The stock is trading at 93.79% of its 52-week high, indicating sustained investor confidence.
However, investors should note that PFGC is trading at a relatively high P/E ratio of 30.52. This valuation metric suggests that the stock may be priced at a premium compared to its earnings. An InvestingPro Tip highlights that PFGC is trading at a high P/E ratio relative to its near-term earnings growth, which could be a point of consideration for value-oriented investors.
Despite this, another InvestingPro Tip points out that PFGC has been profitable over the last twelve months and analysts predict continued profitability this year. This positive outlook on earnings potential may help justify the current valuation to some extent.
It's worth noting that InvestingPro offers additional insights, with 7 more tips available for PFGC, providing a more comprehensive analysis for interested investors.
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