Legal & General Group Plc bought a new stake in Performance Food Group Company (NYSE:PFGC – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 221,464 shares of the food distribution company’s stock, valued at approximately $24,757,000. Legal & General Group Plc owned approximately 0.14% of Performance Food Group as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of PFGC. Cedar Mountain Advisors LLC bought a new stake in shares of Performance Food Group during the 1st quarter worth about $28,000. Asset Planning Inc bought a new position in shares of Performance Food Group in the first quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Performance Food Group in the second quarter valued at approximately $51,000. Lloyd Advisory Services LLC. acquired a new position in shares of Performance Food Group during the fourth quarter valued at approximately $43,000. Finally, Clearstead Advisors LLC increased its stake in shares of Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.
Performance Food Group Stock Down 1.3%
PFGC stock opened at $100.78 on Friday. 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 $15.88 billion, a P/E ratio of 44.01, a P/E/G ratio of 1.30 and a beta of 0.91. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $117.47. The company’s 50 day simple moving average is $110.04 and its 200-day simple moving average is $98.59.
Insider Activity
In related news, insider Donald S. Bulmer sold 10,535 shares of the company’s 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 of the company’s stock, valued at approximately $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A Brent King sold 8,023 shares of the firm’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 $836,076.83. Following the sale, the insider owned 47,800 shares of the company’s stock, valued at approximately $4,981,238. This represents a 14.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 60,391 shares of company stock worth $6,267,460. 4.50% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $133.00 price objective on shares of Performance Food Group in a report on Thursday, August 13th. Citigroup raised their target price 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. Morgan Stanley boosted their price target 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. Finally, Guggenheim upped their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus price target of $126.90.
View Our Latest Analysis on PFGC
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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