Public Employees Retirement System of Ohio bought a new stake in Performance Food Group Company (NYSE:PFGC – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,879 shares of the food distribution company’s stock, valued at approximately $4,793,000.
A number of other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter worth $28,000. Asset Planning Inc acquired a new stake in Performance Food Group in the 1st quarter valued at about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Performance Food Group during the 2nd quarter valued at about $51,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group during the fourth quarter worth about $43,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of Performance Food Group in the second quarter valued at about $54,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.
Insider Transactions at Performance Food Group
In other Performance Food Group news, insider A Brent King sold 1,320 shares of Performance Food Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $138,982.80. Following the completion of the sale, the insider directly owned 44,216 shares of the company’s stock, valued at approximately $4,655,502.64. The trade was a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chasity D. Grosh sold 643 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $67,142.06. Following the completion of the transaction, the insider owned 7,222 shares of the company’s stock, valued at $754,121.24. This trade represents a 8.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 57,750 shares of company stock worth $6,019,910 in the last three months. 4.50% of the stock is currently owned by company insiders.
Performance Food Group Price Performance
Performance Food Group (NYSE:PFGC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. Equities analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PFGC has been the topic of several research reports. UBS Group lowered 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 report on Friday, August 14th. Citigroup lifted their price objective on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $133.00 price target on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, Wells Fargo & Company boosted their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.90.
View Our Latest Stock Analysis on PFGC
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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