GW&K Investment Management LLC Sells 22,544 Shares of Performance Food Group Company $PFGC

GW&K Investment Management LLC cut its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 973,826 shares of the food distribution company’s stock after selling 22,544 shares during the period. Performance Food Group accounts for about 0.8% of GW&K Investment Management LLC’s holdings, making the stock its 22nd largest position. GW&K Investment Management LLC’s holdings in Performance Food Group were worth $87,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFGC. Norges Bank bought a new stake in Performance Food Group during the fourth quarter worth $208,170,000. Wellington Management Group LLP increased its holdings in shares of Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after buying an additional 1,168,869 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Performance Food Group during the fourth quarter worth $81,020,000. Finally, UBS Group AG increased its holdings in shares of Performance Food Group by 246.4% during the third quarter. UBS Group AG now owns 1,158,288 shares of the food distribution company’s stock worth $120,508,000 after buying an additional 823,882 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays upped their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Citigroup upped their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Insider Buying and Selling

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider directly owned 44,655 shares in the company, valued at $4,221,683.70. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider A Brent King sold 5,641 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $96.63, for a total value of $545,089.83. Following the completion of the sale, the insider owned 57,211 shares of the company’s stock, valued at $5,528,298.93. The trade was a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,891 shares of company stock valued at $1,232,460. Company insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

NYSE PFGC opened at $99.73 on Wednesday. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 1.52 and a beta of 0.93. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $109.05. The stock has a fifty day simple moving average of $91.82 and a 200 day simple moving average of $92.15. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.Performance Food Group’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Sell-side analysts expect that Performance Food Group Company will post 4.57 EPS for the current year.

Performance Food Group Company 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.