Wellington Management Group LLP Has $116.17 Million Stock Position in Performance Food Group Company $PFGC

Wellington Management Group LLP cut its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 44.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,039,162 shares of the food distribution company’s stock after selling 847,030 shares during the period. Wellington Management Group LLP’s holdings in Performance Food Group were worth $116,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cedar Mountain Advisors LLC bought a new position in Performance Food Group in the 1st quarter valued at about $28,000. Asset Planning Inc bought a new stake in Performance Food Group during the 1st quarter worth approximately $35,000. Lloyd Advisory Services LLC. bought a new stake in Performance Food Group during the 4th quarter worth approximately $43,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Performance Food Group in the second quarter worth approximately $51,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Buying and Selling

In related news, insider Erika T. Davis sold 1,320 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the sale, the insider directly owned 40,402 shares in the company, valued at approximately $4,253,926.58. The trade was a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider A Brent King sold 1,320 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total value of $138,982.80. Following the sale, the insider directly owned 44,216 shares in the company, valued at $4,655,502.64. This trade represents a 2.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 54,750 shares of company stock worth $5,722,370. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

PFGC has been the topic of several analyst reports. Citigroup lifted their target price on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Guggenheim upped their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, UBS Group lowered their target price on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 14th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.90.

Performance Food Group Price Performance

PFGC opened at $99.15 on Wednesday. The firm has a 50-day moving average price of $109.86 and a 200-day moving average price of $98.76. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 1.27 and a beta of 0.88.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $18.11 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Performance Food Group Company will post 5.58 EPS for the current year.

Performance Food Group Company 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.