Performance Food Group Company $PFGC Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its stake in shares of Performance Food Group Company (NYSE:PFGC) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,808 shares of the food distribution company’s stock after selling 9,266 shares during the period. Daiwa Securities Group Inc.’s holdings in Performance Food Group were worth $7,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFGC. Norges Bank acquired a new position in Performance Food Group during the fourth quarter worth approximately $208,170,000. Wellington Management Group LLP increased its position in Performance Food Group by 46.2% during the third 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 last quarter. Invesco Ltd. increased its position in Performance Food Group by 79.1% during the third 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 last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Performance Food Group during the fourth quarter worth approximately $81,020,000. Finally, UBS Group AG increased its position in Performance Food Group by 246.4% during the third quarter. UBS Group AG now owns 1,158,288 shares of the food distribution company’s stock worth $120,508,000 after purchasing an additional 823,882 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFGC shares. Barclays increased their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research 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 report on Thursday, May 7th. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Finally, Citigroup increased their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the stock 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

Insider Activity

In related news, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were 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. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the sale, the insider directly owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,891 shares of company stock valued at $1,232,460 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Performance Food Group Price Performance

Performance Food Group stock opened at $97.00 on Monday. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $109.05. The firm has a fifty day moving average of $91.24 and a 200-day moving average of $92.09. The firm has a market capitalization of $15.24 billion, a P/E ratio of 46.19, a PEG ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

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 the consensus estimate of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The company had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.

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.