Bank of New York Mellon Corp Has $83.59 Million Holdings in Performance Food Group Company $PFGC

Bank of New York Mellon Corp lessened its holdings in Performance Food Group Company (NYSE:PFGC) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 929,639 shares of the food distribution company’s stock after selling 18,430 shares during the quarter. Bank of New York Mellon Corp’s holdings in Performance Food Group were worth $83,593,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Capital World Investors boosted its stake in shares of Performance Food Group by 0.8% in the 3rd 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 during the last quarter. Wellington Management Group LLP boosted 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 last quarter. Geode Capital Management LLC boosted its stake 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 valued at $252,207,000 after purchasing an additional 36,031 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Performance Food Group in the 4th quarter valued at about $208,170,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 0.3%

Performance Food Group stock opened at $97.37 on Tuesday. The company’s 50 day simple moving average is $91.49 and its 200 day simple moving average is $92.11. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05. The firm has a market capitalization of $15.30 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business 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 earned $0.79 EPS. Performance Food Group’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current year.

Insider Activity

In related news, insider Erika T. Davis sold 1,750 shares of Performance Food Group 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 transaction, the insider owned 44,791 shares of the company’s stock, valued at $4,255,145. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimberly Grant sold 2,500 shares of Performance Food Group 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 completion of the transaction, the director directly owned 11,935 shares in the company, valued at approximately $1,133,825. The trade was a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,891 shares of company stock worth $1,232,460 over the last quarter. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.