GW&K Investment Management LLC raised its position in shares of Performance Food Group Co (NYSE:PFGC) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,510,039 shares of the food distribution company’s stock after acquiring an additional 127,096 shares during the quarter. Performance Food Group makes up about 1.0% of GW&K Investment Management LLC’s holdings, making the stock its 13th largest holding. GW&K Investment Management LLC owned 1.43% of Performance Food Group worth $69,477,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Quest Capital Management Inc. ADV acquired a new stake in shares of Performance Food Group in the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC acquired a new stake in shares of Performance Food Group in the second quarter valued at approximately $45,000. Meeder Asset Management Inc. acquired a new stake in shares of Performance Food Group in the second quarter valued at approximately $54,000. NEXT Financial Group Inc increased its holdings in shares of Performance Food Group by 12.9% in the second quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after purchasing an additional 242 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Performance Food Group in the third quarter valued at approximately $202,000. 97.15% of the stock is owned by institutional investors and hedge funds.
In other news, insider Christine R. Vlahcevic sold 7,879 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $45.27, for a total transaction of $356,682.33. Following the completion of the transaction, the insider now directly owns 19,807 shares in the company, valued at $896,662.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Craig Howard Hoskins sold 17,009 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $43.91, for a total value of $746,865.19. Following the transaction, the insider now owns 123,802 shares of the company’s stock, valued at $5,436,145.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,888 shares of company stock valued at $1,429,538. Company insiders own 3.40% of the company’s stock.
Several equities research analysts recently commented on PFGC shares. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $46.00) on shares of Performance Food Group in a report on Thursday, August 15th. Barclays increased their price objective on Performance Food Group from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Co reiterated a “buy” rating on shares of Performance Food Group in a research report on Friday, September 27th. Zacks Investment Research upgraded Performance Food Group from a “sell” rating to a “hold” rating in a research report on Friday. Finally, BMO Capital Markets increased their price objective on Performance Food Group to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Performance Food Group currently has a consensus rating of “Buy” and a consensus target price of $48.10.
Performance Food Group stock traded down $1.61 during mid-day trading on Friday, hitting $44.14. The company’s stock had a trading volume of 706,952 shares, compared to its average volume of 630,763. Performance Food Group Co has a 1 year low of $30.07 and a 1 year high of $47.26. The stock’s fifty day moving average is $44.07 and its two-hundred day moving average is $42.74. The firm has a market capitalization of $4.56 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.60. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 1.03.
Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.35 by $0.15. Performance Food Group had a return on equity of 15.86% and a net margin of 0.84%. The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 37.5% on a year-over-year basis. On average, equities analysts expect that Performance Food Group Co will post 1.98 EPS for the current fiscal year.
Performance Food Group Profile
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.
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