Sunriver Management LLC cut its holdings in shares of Performance Food Group Company (NYSE:PFGC – Free Report) by 24.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 345,211 shares of the food distribution company’s stock after selling 109,104 shares during the quarter. Performance Food Group comprises 5.0% of Sunriver Management LLC’s investment portfolio, making the stock its 10th biggest position. Sunriver Management LLC’s holdings in Performance Food Group were worth $29,571,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. Capital World Investors grew its stake in Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock valued at $2,037,910,000 after acquiring an additional 216,720 shares in the last quarter. Wellington Management Group LLP lifted its stake in Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Performance Food Group by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after purchasing an additional 36,031 shares during the last quarter. Eminence Capital LP grew its position in shares of Performance Food Group by 60.5% in the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after purchasing an additional 998,249 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after purchasing an additional 1,168,869 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Citigroup boosted their price objective on Performance Food Group from $135.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Barclays lifted their price target on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Guggenheim boosted their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $123.82.
Performance Food Group Stock Up 1.0%
Shares of NYSE PFGC opened at $111.45 on Friday. The company has a market capitalization of $17.51 billion, a P/E ratio of 53.07, a P/E/G ratio of 1.38 and a beta of 0.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The company has a 50 day simple moving average of $104.68 and a 200-day simple moving average of $95.86. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $116.42.
Performance Food Group (NYSE:PFGC – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities research analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current year.
Insider Transactions at Performance Food Group
In other news, insider Erika T. Davis sold 2,595 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $110.00, for a total transaction of $285,450.00. Following the sale, the insider owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. This represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the transaction, the insider directly owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,187 shares of company stock valued at $3,027,315 over the last three months. 4.50% of the stock is currently owned by company 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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