Sterling Capital Management LLC Has $6.74 Million Holdings in Performance Food Group Company $PFGC

Sterling Capital Management LLC lessened its holdings in Performance Food Group Company (NYSE:PFGC) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,705 shares of the food distribution company’s stock after selling 4,637 shares during the quarter. Sterling Capital Management LLC owned 0.05% of Performance Food Group worth $6,742,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Capital World Investors increased its stake in Performance Food Group by 1.0% in the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock valued at $2,037,910,000 after buying an additional 216,720 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock valued at $252,207,000 after acquiring an additional 36,031 shares in the last quarter. Eminence Capital LP increased its position in shares of Performance Food Group by 60.5% in the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after acquiring an additional 998,249 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in 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 acquiring an additional 1,168,869 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PFGC. Barclays increased their price target on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citigroup boosted their price target on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Insiders Place Their Bets

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the sale, the insider owned 44,655 shares of the company’s stock, valued at $4,221,683.70. This trade represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Erika T. Davis sold 1,750 shares of Performance Food Group stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $183,750.00. Following the transaction, the insider directly owned 43,041 shares of the company’s stock, valued at approximately $4,519,305. This trade represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,592 shares of company stock valued at $2,741,865 over the last 90 days. 4.50% of the stock is owned by insiders.

Performance Food Group Trading Up 3.0%

Performance Food Group stock opened at $110.45 on Friday. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $110.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The stock has a market capitalization of $17.35 billion, a P/E ratio of 52.59, a PEG ratio of 1.73 and a beta of 0.93. The stock has a 50-day simple moving average of $96.53 and a 200 day simple moving average of $93.06.

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

About Performance Food Group

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.