MUFG Securities EMEA plc acquired a new stake in Performance Food Group Company (NYSE:PFGC – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund acquired 20,000 shares of the food distribution company’s stock, valued at approximately $1,798,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Torren Management LLC acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $43,000. Clearstead Advisors LLC increased its stake in shares of Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after buying an additional 335 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Performance Food Group by 440.2% in the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after buying an additional 537 shares during the period. Finally, AlphaQuest LLC increased its position in Performance Food Group by 76.0% during the 3rd quarter. AlphaQuest LLC now owns 667 shares of the food distribution company’s stock valued at $69,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on PFGC. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group lowered their target price on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Morgan Stanley cut their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, Barclays boosted their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.00.
Performance Food Group Trading Down 0.7%
NYSE:PFGC opened at $97.51 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $15.32 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.54 and a beta of 0.93. The firm has a fifty day simple moving average of $90.24 and a two-hundred day simple moving average of $92.07. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $109.05.
Performance Food Group (NYSE:PFGC – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $0.79 earnings per share. Analysts expect that Performance Food Group Company will post 4.57 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total transaction of $166,250.00. Following the completion of the sale, the insider owned 44,791 shares in the company, valued at approximately $4,255,145. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider directly owned 44,655 shares of the company’s stock, valued at $4,221,683.70. The trade was a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,250 shares of company stock worth $687,370 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.
About Performance Food Group
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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