Pacer Advisors Inc. Sells 305,096 Shares of Performance Food Group Company $PFGC

Pacer Advisors Inc. lessened its stake in shares of Performance Food Group Company (NYSE:PFGC) by 94.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,655 shares of the food distribution company’s stock after selling 305,096 shares during the period. Pacer Advisors Inc.’s holdings in Performance Food Group were worth $1,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PFGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Performance Food Group by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after buying an additional 121 shares in the last quarter. HB Wealth Management LLC increased its stake in Performance Food Group by 3.8% in the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock worth $285,000 after acquiring an additional 122 shares during the last quarter. Arax Advisory Partners raised 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 acquiring an additional 140 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Performance Food Group by 16.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after acquiring an additional 143 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its position 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 worth $243,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Activity

In related news, insider A Brent King sold 6,111 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider directly owned 44,260 shares in the company, valued at approximately $4,647,300. This represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 30,187 shares of company stock valued at $3,027,315 in the last quarter. 4.50% of the stock is currently owned by company insiders.

Performance Food Group Stock Up 0.2%

Shares of PFGC opened at $114.76 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The business has a fifty day moving average of $108.48 and a 200 day moving average of $97.47. The company has a market cap of $18.03 billion, a PE ratio of 54.65, a P/E/G ratio of 1.44 and a beta of 0.91. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $117.47.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion for 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 revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, sell-side analysts expect that Performance Food Group Company will post 4.57 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the topic of a number of recent research reports. Barclays upped 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 note on Thursday, May 7th. Wells Fargo & Company boosted their target price on shares of Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. TD Cowen began coverage on shares of Performance Food Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $128.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Finally, Citigroup lifted their price target on Performance Food Group from $135.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $123.82.

Performance Food Group Company 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.