Vanguard Group Inc. boosted its position in Performance Food Group Company (NYSE:PFGC) by 16.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,738,910 shares of the restaurant operator’s stock after acquiring an additional 957,920 shares during the period. Vanguard Group Inc. owned 6.50% of Performance Food Group worth $184,646,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Performance Food Group by 62.4% in the second quarter. BlackRock Inc. now owns 5,336,665 shares of the restaurant operator’s stock valued at $146,224,000 after acquiring an additional 2,049,633 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Performance Food Group in the second quarter valued at about $1,328,000. Insight Capital Research & Management Inc. bought a new position in Performance Food Group in the second quarter valued at about $1,004,000. Keybank National Association OH bought a new position in Performance Food Group in the second quarter valued at about $1,220,000. Finally, Engineers Gate Manager LP bought a new position in Performance Food Group in the second quarter valued at about $2,648,000. Institutional investors and hedge funds own 78.71% of the company’s stock.
Performance Food Group Company (NYSE PFGC) opened at 28.25 on Wednesday. The firm has a 50-day moving average price of $28.30 and a 200 day moving average price of $27.20. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 30.38 and a beta of -0.27. Performance Food Group Company has a 1-year low of $19.95 and a 1-year high of $29.90.
Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, August 16th. The restaurant operator reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.46 billion. Performance Food Group had a return on equity of 14.73% and a net margin of 0.57%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. Equities analysts predict that Performance Food Group Company will post $1.43 earnings per share for the current year.
Several equities analysts recently issued reports on PFGC shares. Morgan Stanley raised their price target on Performance Food Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, September 13th. Zacks Investment Research cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets raised their price target on Performance Food Group from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. BidaskClub cut Performance Food Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $26.80 price target on shares of Performance Food Group in a report on Tuesday, June 27th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.30.
In related news, insider James D. Hope purchased 3,575 shares of Performance Food Group stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $26.99 per share, for a total transaction of $96,489.25. Following the transaction, the insider now owns 65,480 shares of the company’s stock, valued at approximately $1,767,305.20. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Wellspring Capital Partners Iv sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $28.25, for a total value of $141,250,000.00. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
Performance Food Group Company Profile
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.
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