UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Performance Food Group Company (NYSE:PFGC – Free Report) by 5.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 365,696 shares of the food distribution company’s stock after selling 22,602 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Performance Food Group worth $40,881,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC acquired a new stake in shares of Performance Food Group during the first quarter worth $28,000. Asset Planning Inc bought a new stake in Performance Food Group during the first quarter worth $35,000. Lloyd Advisory Services LLC. bought a new stake in Performance Food Group during the fourth quarter worth $43,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at $51,000. Finally, Clearstead Advisors LLC increased its stake in shares of Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after purchasing an additional 335 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.
Performance Food Group Stock Performance
Shares of PFGC stock opened at $99.15 on Friday. The business’s 50-day moving average price is $109.56 and its 200-day moving average price is $98.78. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $117.47. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 1.28 and a beta of 0.88. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34.
Analyst Ratings Changes
PFGC has been the subject of several recent analyst reports. Barclays upped their price objective on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Citigroup boosted their target price on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. UBS Group reduced their price target on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Finally, Morgan Stanley upped their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.90.
Read Our Latest Stock Analysis on PFGC
Insiders Place Their Bets
In related news, insider A. King sold 8,023 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $836,076.83. Following the transaction, the insider owned 47,800 shares in the company, valued at $4,981,238. The trade was a 14.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald S. Bulmer sold 10,535 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $105.90, for a total transaction of $1,115,656.50. Following the transaction, the insider directly owned 54,291 shares in the company, valued at approximately $5,749,416.90. This represents a 16.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,750 shares of company stock valued at $6,019,910 in the last ninety days. 4.50% of the stock is owned by corporate insiders.
Performance Food Group Profile
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.
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