Tidal Investments LLC cut its holdings in shares of Performance Food Group Company (NYSE:PFGC – Free Report) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,504 shares of the food distribution company’s stock after selling 5,490 shares during the period. Tidal Investments LLC’s holdings in Performance Food Group were worth $4,081,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PFGC. California State Teachers Retirement System grew its position in Performance Food Group by 10,766.1% in the 2nd quarter. California State Teachers Retirement System now owns 19,960,216 shares of the food distribution company’s stock worth $2,231,353,000 after purchasing an additional 19,776,523 shares during the period. BlackRock Inc. purchased a new stake in Performance Food Group during the 2nd quarter valued at $1,576,983,000. Primecap Management Co. CA bought a new position in shares of Performance Food Group during the 2nd quarter valued at $305,064,000. Norges Bank bought a new position in shares of Performance Food Group during the 4th quarter valued at $208,170,000. Finally, Eminence Capital LP boosted its stake in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after buying an additional 998,249 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on PFGC. Wells Fargo & Company lifted their price objective on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. UBS Group dropped their target price on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Guggenheim raised their target price on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Citigroup boosted their price target on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley upped their price target on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.40.
Insider Buying and Selling
In related news, insider Erika T. Davis sold 8,008 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total transaction of $834,513.68. Following the completion of the transaction, the insider directly owned 43,986 shares in the company, valued at approximately $4,583,781.06. The trade was a 15.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the completion of the sale, the insider directly owned 58,167 shares of the company’s stock, valued at $5,769,003.06. This represents a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,049 shares of company stock worth $4,510,505 over the last ninety days. 4.50% of the stock is owned by corporate insiders.
Performance Food Group Trading Down 0.8%
NYSE:PFGC opened at $93.23 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47. The business has a fifty day moving average price of $107.25 and a 200-day moving average price of $98.69.
Performance Food Group (NYSE:PFGC – Get Free Report) last released its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.01). The company had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. Performance Food Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Sell-side analysts forecast that Performance Food Group Company will post 5.6 EPS for the current year.
Performance Food Group Profile
Performance Food Group Company (NYSE:PFGC) is a food and food-related products distributor serving businesses across the United States and Canada. The company supplies restaurants, foodservice operators, schools, healthcare facilities, hospitality businesses, vending and entertainment venues, and convenience stores.
Performance Food Group operates through three primary businesses: Foodservice, Vistar and Convenience. Its offerings include fresh and frozen foods, dry groceries, beverages, ingredients, disposable supplies, and specialty products such as candy, snacks and theater concessions.
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