Bank of America Corp DE reduced its stake in Performance Food Group Co (NYSE:PFGC) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 543,177 shares of the food distribution company’s stock after selling 91,972 shares during the period. Bank of America Corp DE owned approximately 0.52% of Performance Food Group worth $17,528,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Performance Food Group by 4.6% in the third quarter. JPMorgan Chase & Co. now owns 8,158,083 shares of the food distribution company’s stock valued at $271,664,000 after acquiring an additional 356,243 shares during the period. Bank of New York Mellon Corp increased its position in Performance Food Group by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 903,488 shares of the food distribution company’s stock worth $30,087,000 after acquiring an additional 6,387 shares during the period. Martingale Asset Management L P raised its stake in Performance Food Group by 9.4% during the 3rd quarter. Martingale Asset Management L P now owns 178,571 shares of the food distribution company’s stock valued at $5,947,000 after purchasing an additional 15,324 shares during the last quarter. Standard Life Aberdeen plc raised its stake in Performance Food Group by 44.5% during the 3rd quarter. Standard Life Aberdeen plc now owns 13,957 shares of the food distribution company’s stock valued at $465,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new position in Performance Food Group during the 3rd quarter valued at $490,000. Hedge funds and other institutional investors own 96.85% of the company’s stock.
PFGC has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Performance Food Group from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a research report on Friday, February 8th. Pivotal Research reaffirmed a “hold” rating and set a $37.00 price objective on shares of Performance Food Group in a research report on Thursday, February 7th. ValuEngine upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Performance Food Group in a research note on Friday, January 11th. Finally, Citigroup initiated coverage on Performance Food Group in a research report on Friday, December 21st. They set a “buy” rating and a $40.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Performance Food Group presently has a consensus rating of “Buy” and an average target price of $39.17.
In other Performance Food Group news, insider Craig Howard Hoskins sold 10,709 shares of Performance Food Group stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $39.86, for a total transaction of $426,860.74. Following the sale, the insider now directly owns 97,529 shares of the company’s stock, valued at $3,887,505.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 11,609 shares of company stock worth $459,702 over the last ninety days. Company insiders own 3.80% of the company’s stock.
NYSE:PFGC opened at $39.77 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.57 and a debt-to-equity ratio of 1.07. Performance Food Group Co has a 52 week low of $28.05 and a 52 week high of $40.08. The stock has a market cap of $4.15 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70.
Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 6th. The food distribution company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Performance Food Group had a net margin of 0.94% and a return on equity of 15.39%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Performance Food Group Co will post 1.81 EPS for the current year.
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Performance Food Group Profile
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.
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