Bain Capital Public Equity Management II LLC Sells 1,778,255 Shares of Performance Food Group Company $PFGC

Bain Capital Public Equity Management II LLC trimmed its stake in shares of Performance Food Group Company (NYSE:PFGC) by 91.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 166,802 shares of the food distribution company’s stock after selling 1,778,255 shares during the quarter. Performance Food Group accounts for 24.2% of Bain Capital Public Equity Management II LLC’s portfolio, making the stock its 3rd largest holding. Bain Capital Public Equity Management II LLC owned approximately 0.11% of Performance Food Group worth $14,999,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in Performance Food Group during the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. acquired a new stake in Performance Food Group during the fourth quarter valued at approximately $43,000. Clearstead Advisors LLC boosted its holdings in Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after purchasing an additional 335 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 537 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Performance Food Group during the fourth quarter valued at approximately $62,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $183,750.00. Following the transaction, the insider owned 43,041 shares of the company’s stock, valued at approximately $4,519,305. This represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the company’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 transaction, the director directly owned 11,935 shares in the company, valued at approximately $1,133,825. This represents a 17.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,592 shares of company stock worth $2,741,865 in the last quarter. 4.50% of the stock is owned by corporate insiders.

Performance Food Group Stock Up 0.1%

Shares of PFGC opened at $104.13 on Tuesday. The company has a market capitalization of $16.36 billion, a P/E ratio of 49.59, a PEG ratio of 1.63 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 Company has a one year low of $80.82 and a one year high of $109.05. The business’s 50 day simple moving average is $93.33 and its 200-day simple moving average is $92.37.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFGC. Citigroup lifted their price objective on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Finally, Barclays boosted their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

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.