Performance Food Group Company $PFGC Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in shares of Performance Food Group Company (NYSE:PFGC) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,808 shares of the food distribution company’s stock after selling 9,266 shares during the quarter. Daiwa Securities Group Inc. owned 0.05% of Performance Food Group worth $7,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maven Securities LTD purchased a new stake in shares of Performance Food Group in the third quarter valued at about $2,589,000. Close Asset Management Ltd lifted its holdings in shares of Performance Food Group by 7.5% in the third quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company’s stock valued at $216,536,000 after purchasing an additional 145,387 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Performance Food Group by 10.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company’s stock valued at $44,124,000 after purchasing an additional 45,867 shares in the last quarter. Capital World Investors lifted its holdings in shares of Performance Food Group by 0.8% in the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock valued at $2,335,371,000 after purchasing an additional 185,624 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Performance Food Group by 37.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 441,146 shares of the food distribution company’s stock valued at $39,668,000 after purchasing an additional 120,725 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $95.00, for a total transaction of $166,250.00. Following the completion of the transaction, the insider owned 44,791 shares of the company’s stock, valued at approximately $4,255,145. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,891 shares of company stock worth $1,232,460. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Stock Performance

Shares of PFGC opened at $97.00 on Monday. 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 company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 1.52 and a beta of 0.93. The company’s 50 day simple moving average is $91.24 and its 200 day simple moving average is $92.09. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $109.05.

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 (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the topic of several recent research reports. Barclays upped their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $123.00 price target on shares of Performance Food Group in a report on Thursday, May 7th. Citigroup upped their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

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.