Performance Food Group Company $PFGC Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in Performance Food Group Company (NYSE:PFGC) by 2,199.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 28,998 shares of the food distribution company’s stock after purchasing an additional 27,737 shares during the quarter. Fifth Third Bancorp’s holdings in Performance Food Group were worth $2,484,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in 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 position in Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the period. Invesco Ltd. boosted its position in Performance Food Group by 79.1% during the 3rd 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 period. Eminence Capital LP increased its holdings in Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after purchasing an additional 998,249 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Performance Food Group in the 4th quarter valued at $81,020,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Transactions at Performance Food Group

In related news, insider Erika T. Davis sold 2,595 shares of the company’s stock in a transaction that occurred 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 directly owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. This represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the transaction, the insider owned 44,655 shares in the company, valued at $4,221,683.70. This trade represents a 6.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,187 shares of company stock worth $3,027,315. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Trading Up 0.9%

NYSE PFGC opened at $110.32 on Wednesday. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 52.53, a price-to-earnings-growth ratio of 1.37 and a beta of 0.91. 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 Company has a 12 month low of $80.82 and a 12 month high of $116.42. The company’s fifty day moving average price is $103.79 and its two-hundred day moving average price is $95.44.

Performance Food Group (NYSE:PFGC) last released its earnings results 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. The company had revenue of $16.29 billion during 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 revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, research analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley boosted their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Barclays upped 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 set a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday, June 24th. Eleven equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.09.

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.