Hsbc Holdings PLC Acquires 11,569 Shares of Performance Food Group Company $PFGC

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

A number of other institutional investors have also made changes to their positions in the business. Arax Advisory Partners grew its holdings in shares of Performance Food Group by 7.4% during the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock worth $184,000 after purchasing an additional 140 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Performance Food Group by 16.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock valued at $91,000 after purchasing an additional 143 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Performance Food Group by 6.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock valued at $243,000 after purchasing an additional 173 shares in the last quarter. UMB Bank n.a. lifted its position in Performance Food Group by 10.3% during the fourth quarter. UMB Bank n.a. now owns 1,941 shares of the food distribution company’s stock worth $175,000 after purchasing an additional 181 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its position in Performance Food Group by 0.8% during the second quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company’s stock worth $2,183,000 after purchasing an additional 189 shares during the period. Institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PFGC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday, June 24th. Guggenheim boosted their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Citigroup upped their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a research note on Thursday, May 7th. Finally, TD Cowen initiated coverage on shares of Performance Food Group in a research report on Tuesday. They set a “buy” rating and a $128.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and an average price target of $120.73.

Performance Food Group Trading Up 0.4%

PFGC opened at $112.03 on Friday. The company has a market cap of $17.60 billion, a P/E ratio of 53.35, a PEG ratio of 1.39 and a beta of 0.91. 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’s 50 day moving average is $100.57 and its 200-day moving average is $94.28. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $116.42.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Equities research analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In related news, insider Erika T. Davis sold 2,595 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $110.00, for a total transaction of $285,450.00. Following the sale, the insider owned 40,446 shares of the company’s stock, valued at $4,449,060. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,187 shares of company stock worth $3,027,315. Corporate insiders own 4.50% of the company’s stock.

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.