Factory Mutual Insurance Co. lifted its stake in Performance Food Group Company (NYSE:PFGC – Free Report) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 595,620 shares of the food distribution company’s stock after acquiring an additional 24,170 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Performance Food Group were worth $54,505,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of PFGC. Cedar Mountain Advisors LLC purchased a new stake in shares of Performance Food Group during the 1st quarter valued at about $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Performance Food Group during the 3rd quarter worth approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Performance Food Group in the 2nd quarter worth approximately $51,000. Transamerica Financial Advisors LLC purchased a new position in Performance Food Group in the 2nd quarter worth approximately $54,000. Finally, Field & Main Bank purchased a new position in Performance Food Group in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 96.87% of the company’s stock.
Performance Food Group Stock Performance
Performance Food Group stock opened at $96.09 on Wednesday. The stock has a market cap of $15.14 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average of $95.49 and a 200-day moving average of $97.46. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $117.47.
Performance Food Group (NYSE:PFGC – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The company had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, analysts expect that Performance Food Group Company will post 5.58 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on PFGC shares. Morgan Stanley increased their price objective on shares of Performance Food Group from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. UBS Group reduced their target price 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. Weiss Ratings lowered shares of Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. TD Cowen dropped their price target on shares of Performance Food Group from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.
Check Out Our Latest Report on PFGC
Insider Activity at Performance Food Group
In other Performance Food Group news, insider A. King sold 8,023 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $836,076.83. Following the completion of the transaction, the insider directly owned 47,800 shares of the company’s stock, valued at $4,981,238. This trade represents a 14.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald Bulmer sold 10,535 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 54,291 shares of the company’s stock, valued at $5,749,416.90. The trade was a 16.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,459 shares of company stock valued at $4,317,917 in the last 90 days. 2.10% of the stock is currently owned by insiders.
About Performance Food Group
Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.
Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.
The company traces its origins to 1987 and is headquartered in Richmond, Virginia.
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