Hsbc Holdings PLC Increases Stake in Performance Food Group Company $PFGC

Hsbc Holdings PLC lifted its position in Performance Food Group Company (NYSE:PFGC) by 30.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,951 shares of the food distribution company’s stock after acquiring an additional 11,569 shares during the quarter. Hsbc Holdings PLC’s holdings in Performance Food Group were worth $4,408,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PFGC. Torren Management LLC purchased a new position in shares of Performance Food Group during the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. bought a new stake in shares of Performance Food Group during the 4th quarter worth approximately $43,000. Clearstead Advisors LLC lifted its stake in shares of Performance Food Group by 132.9% during the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock worth $53,000 after acquiring an additional 335 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after acquiring an additional 537 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Performance Food Group during the 4th quarter valued at $62,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday. Citigroup boosted 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. Barclays upped their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” 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 research note on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Insider Buying and Selling

In other Performance Food Group news, insider A Brent King sold 6,111 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the completion of the transaction, the insider directly owned 44,260 shares in the company, valued at approximately $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erika T. Davis sold 1,750 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $183,750.00. Following the sale, the insider directly owned 43,041 shares of the company’s stock, valued at $4,519,305. The trade was a 3.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,592 shares of company stock valued at $2,741,865. 4.50% of the stock is owned by insiders.

Performance Food Group Trading Up 3.0%

Shares of NYSE PFGC opened at $110.45 on Friday. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $110.66. The firm has a market cap of $17.35 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93. The business has a fifty day simple moving average of $96.53 and a two-hundred day simple moving average of $93.06. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $16.17 billion. During the same quarter last year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

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.