Capital World Investors Grows Stake in Performance Food Group Company $PFGC

Capital World Investors lifted its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,663,573 shares of the food distribution company’s stock after acquiring an additional 216,720 shares during the quarter. Capital World Investors owned 14.45% of Performance Food Group worth $2,037,910,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in shares of Performance Food Group during the fourth quarter worth about $67,000. Cookson Peirce & Co. Inc. increased its position in shares of Performance Food Group by 20.3% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 3,409 shares of the food distribution company’s stock worth $307,000 after acquiring an additional 575 shares during the last quarter. Havemeyer Place LP purchased a new stake in shares of Performance Food Group during the fourth quarter worth about $1,254,000. Vise Technologies Inc. increased its position in shares of Performance Food Group by 9.2% during the fourth quarter. Vise Technologies Inc. now owns 2,757 shares of the food distribution company’s stock worth $248,000 after acquiring an additional 233 shares during the last quarter. Finally, State of Wyoming increased its position in shares of Performance Food Group by 315.1% during the fourth quarter. State of Wyoming now owns 12,323 shares of the food distribution company’s stock worth $1,108,000 after acquiring an additional 9,354 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Up 3.3%

Shares of Performance Food Group stock opened at $97.00 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The firm has a market cap of $15.24 billion, a P/E ratio of 46.19, a P/E/G ratio of 1.52 and a beta of 0.93. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05. The business has a 50-day moving average price of $91.24 and a 200 day moving average price of $92.11.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.Performance Food Group’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. On average, sell-side analysts forecast that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Erika T. Davis sold 1,750 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total value of $166,250.00. Following the completion of the sale, the insider directly owned 44,791 shares of the company’s stock, valued at $4,255,145. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider A Brent King sold 5,641 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $96.63, for a total value of $545,089.83. Following the completion of the sale, the insider directly owned 57,211 shares of the company’s stock, valued at approximately $5,528,298.93. This represents a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,891 shares of company stock valued at $1,232,460 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

PFGC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Citigroup lifted their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a research report on Thursday, May 7th. Finally, Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

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.