Clearbridge Investments LLC Sells 311,487 Shares of Performance Food Group Company $PFGC

Clearbridge Investments LLC trimmed its stake in Performance Food Group Company (NYSE:PFGC) by 7.4% during the 4th quarter, Holdings Channel reports. The firm owned 3,886,587 shares of the food distribution company’s stock after selling 311,487 shares during the quarter. Clearbridge Investments LLC’s holdings in Performance Food Group were worth $349,482,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Performance Food Group by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock worth $1,134,000 after purchasing an additional 113 shares during the last quarter. US Bancorp DE increased its position in shares of Performance Food Group by 4.6% in the third quarter. US Bancorp DE now owns 3,283 shares of the food distribution company’s stock worth $342,000 after purchasing an additional 144 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of 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 worth $243,000 after purchasing an additional 173 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Performance Food Group by 0.8% in 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 last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Performance Food Group by 8.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,385 shares of the food distribution company’s stock worth $214,000 after purchasing an additional 190 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider A Brent King sold 5,641 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $96.63, for a total value of $545,089.83. Following the completion of the sale, the insider owned 57,211 shares of the company’s stock, valued at $5,528,298.93. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Grant sold 2,500 shares of the firm’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 completion of the sale, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. The trade was a 17.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,891 shares of company stock worth $1,232,460. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

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

Performance Food Group Stock Performance

NYSE:PFGC opened at $97.00 on Friday. The firm has a market cap of $15.24 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The business has a 50 day moving average price of $91.24 and a 200-day moving average price of $92.11.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current 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.