Verition Fund Management LLC Sells 120,709 Shares of Performance Food Group Company $PFGC

Verition Fund Management LLC reduced its position in Performance Food Group Company (NYSE:PFGC) by 38.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 192,664 shares of the food distribution company’s stock after selling 120,709 shares during the quarter. Verition Fund Management LLC’s holdings in Performance Food Group were worth $17,324,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PFGC. Goldman Sachs Group Inc. boosted its stake in shares of Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after purchasing an additional 184,066 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Performance Food Group in the 1st quarter valued at $359,000. EverSource Wealth Advisors LLC lifted its position in shares of Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after acquiring an additional 537 shares during the period. Marshall Wace LLP acquired a new position in shares of Performance Food Group during the 2nd quarter valued at $230,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after acquiring an additional 273,997 shares during the period. 96.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Citigroup boosted their target price 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 target price 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. Finally, Barclays boosted 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 report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $104.13 on Tuesday. The firm has a 50-day moving average of $93.33 and a 200-day moving average of $92.37. The company has a market cap of $16.36 billion, a P/E ratio of 49.59, a P/E/G 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.

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, beating 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 firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. Equities research analysts forecast that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In related news, insider Erika T. Davis sold 1,750 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $183,750.00. Following the completion of the transaction, the insider owned 43,041 shares in the company, valued at approximately $4,519,305. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimberly Grant sold 2,500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,592 shares of company stock worth $2,741,865 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

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.