Vanguard Group Inc. Trims Stake in Performance Food Group Company $PFGC

Vanguard Group Inc. lessened its stake in Performance Food Group Company (NYSE:PFGC) by 0.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,230,884 shares of the food distribution company’s stock after selling 126,942 shares during the quarter. Vanguard Group Inc. owned 0.10% of Performance Food Group worth $1,584,621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PFGC. State of New Jersey Common Pension Fund D lifted its stake in shares of Performance Food Group by 10.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 52,117 shares of the food distribution company’s stock valued at $5,422,000 after purchasing an additional 5,041 shares during the period. PNC Financial Services Group Inc. increased its holdings in Performance Food Group by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock valued at $1,134,000 after buying an additional 113 shares in the last quarter. BTC Capital Management Inc. raised its position in shares of Performance Food Group by 10.2% in the third quarter. BTC Capital Management Inc. now owns 5,489 shares of the food distribution company’s stock worth $571,000 after acquiring an additional 506 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in shares of Performance Food Group in the third quarter worth about $295,000. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Performance Food Group by 8.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 74,295 shares of the food distribution company’s stock worth $7,730,000 after acquiring an additional 5,861 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Trading Down 0.1%

Shares of Performance Food Group stock opened at $97.73 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $93.43 and its 200-day simple moving average is $97.52. The stock has a market cap of $15.32 billion, a P/E ratio of 44.42, a P/E/G ratio of 1.38 and a beta of 0.93. Performance Food Group Company has a 1-year low of $68.39 and a 1-year high of $109.05.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.09). The company had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. Performance Food Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Analysts predict that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insider Activity

In other news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider owned 6,601 shares in the company, valued at $607,490.03. The trade was a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Zacks Research cut Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. UBS Group cut their price objective on Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Morgan Stanley decreased their target price on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Citigroup cut their price target on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a report on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

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.