SG Americas Securities LLC Sells 17,622 Shares of Performance Food Group Company $PFGC

SG Americas Securities LLC cut its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 24.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,958 shares of the food distribution company’s stock after selling 17,622 shares during the period. SG Americas Securities LLC’s holdings in Performance Food Group were worth $4,622,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PFGC. Norges Bank purchased a new position in shares of Performance Food Group in the 4th quarter valued at $208,170,000. Wellington Management Group LLP boosted its stake in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares in the last quarter. Invesco Ltd. grew its holdings in Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Eminence Capital LP grew its holdings in Performance Food Group by 60.5% in the fourth quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after purchasing an additional 998,249 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Performance Food Group in the fourth quarter worth $81,020,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $112.34 on Tuesday. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $112.76. The company’s 50 day moving average is $97.00 and its 200 day moving average is $93.19. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The company has a market cap of $17.65 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on PFGC shares. Barclays increased their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Guggenheim upped their target price on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday. Citigroup increased their price target on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.00.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director directly owned 11,935 shares of the company’s stock, valued at approximately $1,133,825. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erika T. Davis sold 2,595 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider directly owned 40,446 shares in the company, valued at $4,449,060. This represents a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 30,187 shares of company stock valued at $3,027,315. Company insiders own 4.50% of the company’s stock.

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.