Hsbc Holdings PLC Has $1.38 Million Stake in Performance Food Group Company $PFGC

Hsbc Holdings PLC trimmed its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 66.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,322 shares of the food distribution company’s stock after selling 32,629 shares during the period. Hsbc Holdings PLC’s holdings in Performance Food Group were worth $1,381,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Capital World Investors grew its holdings in Performance Food Group by 1.0% during the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after acquiring an additional 216,720 shares during the period. Wellington Management Group LLP lifted its stake 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 purchasing an additional 1,964,799 shares during the period. Geode Capital Management LLC boosted its position 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 worth $252,207,000 after purchasing an additional 36,031 shares during the last quarter. Eminence Capital LP boosted its position in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after purchasing an additional 998,249 shares during the last quarter. Finally, Invesco Ltd. grew its stake 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 purchasing an additional 1,168,869 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PFGC shares. Barclays increased their target price on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Citigroup boosted their target price on Performance Food Group from $135.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. TD Cowen started coverage on Performance Food Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $128.00 price target for the company. Morgan Stanley increased their price target on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Eleven equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.82.

Performance Food Group Stock Up 2.5%

NYSE:PFGC opened at $114.31 on Tuesday. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $116.42. The stock has a 50-day moving average price of $105.04 and a two-hundred day moving average price of $96.11. The stock has a market cap of $17.96 billion, a price-to-earnings ratio of 54.43, a PEG ratio of 1.40 and a beta of 0.91. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same quarter last year, the firm posted $0.79 earnings per share. Performance Food Group’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current year.

Insiders Place Their Bets

In other Performance Food Group news, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the sale, the director directly owned 11,935 shares in the company, valued at approximately $1,133,825. This trade represents a 17.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Erika T. Davis sold 2,595 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $110.00, for a total transaction of $285,450.00. Following the completion of the transaction, the insider owned 40,446 shares of the company’s stock, valued at $4,449,060. This trade represents a 6.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,187 shares of company stock valued at $3,027,315 in the last quarter. 4.50% of the stock is owned by company insiders.

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.