5,746 Performance Food Group Company $PFGC Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,556 shares of the food distribution company’s stock after selling 5,746 shares during the quarter. Sterling Capital Management LLC’s holdings in Performance Food Group were worth $6,457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Performance Food Group in the 2nd quarter valued at about $1,576,983,000. Primecap Management Co. CA bought a new position in Performance Food Group in the 2nd quarter valued at about $305,064,000. Dimensional Fund Advisors LP lifted its position in Performance Food Group by 32.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock worth $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 Performance Food Group during the second quarter worth approximately $105,756,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Performance Food Group during the second quarter worth approximately $94,236,000. 96.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFGC has been the subject of a number of research analyst reports. Weiss Ratings cut Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Guggenheim increased their price objective on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, Citigroup boosted their price target on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Performance Food Group Stock Down 3.3%

NYSE PFGC opened at $94.63 on Friday. The business has a fifty day moving average price of $96.39 and a two-hundred day moving average price of $99.87. The stock has a market capitalization of $14.91 billion, a PE ratio of 41.33, a PEG ratio of 1.22 and a beta of 0.87. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67.

Performance Food Group (NYSE:PFGC) 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 the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Performance Food Group news, 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 transaction, the insider owned 54,291 shares of the company’s stock, valued at approximately $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 41,459 shares of company stock worth $4,317,917. Insiders own 2.10% of the company’s stock.

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.