6,538 Shares in Performance Food Group Company $PFGC Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. purchased a new position in Performance Food Group Company (NYSE:PFGC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,538 shares of the food distribution company’s stock, valued at approximately $598,000.

A number of other institutional investors also recently bought and sold shares of PFGC. BlackRock Inc. acquired a new stake in Performance Food Group during the 2nd quarter valued at approximately $1,576,983,000. Primecap Management Co. CA purchased a new stake in shares of Performance Food Group in the 2nd quarter valued at $305,064,000. Dimensional Fund Advisors LP boosted its holdings in shares of Performance Food Group by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock valued at $215,418,000 after acquiring an additional 619,572 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Performance Food Group in the second quarter worth $105,756,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Performance Food Group in the second quarter worth $94,236,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Up 0.5%

PFGC opened at $97.75 on Friday. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 1.24 and a beta of 0.87. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. The company has a fifty day moving average of $97.66 and a two-hundred day moving average of $99.44.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. Performance Food Group’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, research analysts expect that Performance Food Group Company will post 5.60 earnings per share for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider Erika T. Davis sold 8,008 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $834,513.68. Following the completion of the sale, the insider directly owned 43,986 shares of the company’s stock, valued at $4,583,781.06. This trade represents a 15.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hugh Hatcher sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total value of $297,540.00. Following the completion of the sale, the insider directly owned 58,167 shares of the company’s stock, valued at $5,769,003.06. This trade represents a 4.90% 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 sold 41,459 shares of company stock worth $4,317,917. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PFGC shares. Guggenheim raised their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. 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. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, Morgan Stanley increased their price target on Performance Food Group from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.40.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.