American International Group Inc. Boosts Holdings in Performance Food Group Co (PFGC)

American International Group Inc. boosted its holdings in shares of Performance Food Group Co (NYSE:PFGC) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,074 shares of the restaurant operator’s stock after purchasing an additional 4,172 shares during the period. American International Group Inc. owned approximately 0.06% of Performance Food Group worth $1,942,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Performance Food Group by 42.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,979 shares of the restaurant operator’s stock valued at $165,000 after acquiring an additional 1,478 shares in the last quarter. Chicago Equity Partners LLC increased its stake in Performance Food Group by 3.3% in the 1st quarter. Chicago Equity Partners LLC now owns 96,830 shares of the restaurant operator’s stock valued at $2,890,000 after buying an additional 3,070 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in Performance Food Group in the 4th quarter valued at approximately $103,000. The Manufacturers Life Insurance Company increased its stake in Performance Food Group by 5.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 68,205 shares of the restaurant operator’s stock valued at $2,258,000 after buying an additional 3,712 shares during the period. Finally, Swiss National Bank increased its stake in Performance Food Group by 2.3% in the 1st quarter. Swiss National Bank now owns 181,400 shares of the restaurant operator’s stock valued at $5,415,000 after buying an additional 4,000 shares during the period. 94.22% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of Performance Food Group in a research note on Friday, June 8th. They issued a “hold” rating and a $38.00 price objective on the stock. Zacks Investment Research upgraded shares of Performance Food Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Pivotal Research restated a “hold” rating and set a $31.00 price target on shares of Performance Food Group in a research note on Thursday, May 10th. Loop Capital set a $43.00 price target on shares of Performance Food Group and gave the stock a “buy” rating in a research note on Thursday, May 10th. Finally, Credit Suisse Group began coverage on shares of Performance Food Group in a research note on Tuesday, April 17th. They set an “outperform” rating and a $36.00 price target on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.67.

Performance Food Group traded up $0.35, reaching $35.65, during midday trading on Thursday, Marketbeat reports. The stock had a trading volume of 394,100 shares, compared to its average volume of 644,496. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 1.17. Performance Food Group Co has a 1-year low of $25.40 and a 1-year high of $36.55. The firm has a market capitalization of $3.65 billion, a PE ratio of 28.75, a PEG ratio of 1.13 and a beta of 0.35.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, May 9th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Performance Food Group had a net margin of 1.00% and a return on equity of 15.76%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 2.7% on a year-over-year basis. analysts anticipate that Performance Food Group Co will post 1.6 EPS for the current fiscal year.

In other news, insider Patrick T. Hagerty sold 29,305 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $35.35, for a total transaction of $1,035,931.75. Following the completion of the transaction, the insider now directly owns 167,837 shares of the company’s stock, valued at approximately $5,933,037.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carol A. O’connell sold 113,568 shares of the stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $34.32, for a total transaction of $3,897,653.76. Following the sale, the insider now owns 142,378 shares of the company’s stock, valued at approximately $4,886,412.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,029 shares of company stock valued at $5,464,956. Insiders own 3.70% of the company’s stock.

About Performance Food Group

Performance Food Group Co engages in the market and distribution of food products. It operates its business through the following segments: Performance Foodservice; PFG Customized; Vistar; and Corporate and All Other. The Performance Foodservice segment offers beef, pork, poultry, and seafood, frozen foods, refrigerated products; dry groceries to disposables; cleaning and kitchen supplies; and related products used by its customers.

Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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