Sterling Capital Management LLC Has $24.86 Million Stake in Performance Food Group Co (PFGC)

Sterling Capital Management LLC grew its position in Performance Food Group Co (NYSE:PFGC) by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 746,600 shares of the restaurant operator’s stock after purchasing an additional 77,800 shares during the quarter. Sterling Capital Management LLC’s holdings in Performance Food Group were worth $24,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PFGC. Millennium Management LLC raised its holdings in shares of Performance Food Group by 202.6% in the 2nd quarter. Millennium Management LLC now owns 705,332 shares of the restaurant operator’s stock valued at $25,886,000 after purchasing an additional 472,273 shares in the last quarter. Scopus Asset Management L.P. raised its stake in Performance Food Group by 420.0% during the 2nd quarter. Scopus Asset Management L.P. now owns 520,000 shares of the restaurant operator’s stock worth $19,084,000 after acquiring an additional 420,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in Performance Food Group by 62.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,026,740 shares of the restaurant operator’s stock worth $37,681,000 after acquiring an additional 395,836 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in Performance Food Group by 21.4% during the 2nd quarter. Rothschild Asset Management Inc. now owns 1,183,170 shares of the restaurant operator’s stock worth $43,422,000 after acquiring an additional 208,658 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Performance Food Group by 90.6% during the 1st quarter. Allianz Asset Management GmbH now owns 421,142 shares of the restaurant operator’s stock worth $12,571,000 after acquiring an additional 200,155 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Several equities research analysts recently commented on PFGC shares. Zacks Investment Research upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Friday, July 20th. Royal Bank of Canada lifted their price target on shares of Performance Food Group from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Loop Capital lifted their price target on shares of Performance Food Group to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. ValuEngine lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley cut their price target on shares of Performance Food Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 16th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.45.

Shares of Performance Food Group stock opened at $29.38 on Friday. Performance Food Group Co has a 1 year low of $26.35 and a 1 year high of $39.45. The company has a current ratio of 1.50, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, August 15th. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.07). Performance Food Group had a return on equity of 15.58% and a net margin of 1.13%. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts forecast that Performance Food Group Co will post 1.73 EPS for the current year.

In other Performance Food Group news, insider Carol A. O’connell sold 6,939 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $36.77, for a total transaction of $255,147.03. Following the transaction, the insider now directly owns 50,474 shares of the company’s stock, valued at approximately $1,855,928.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 4,450 shares of Performance Food Group stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $33.63, for a total transaction of $149,653.50. Following the completion of the sale, the insider now directly owns 125,526 shares in the company, valued at approximately $4,221,439.38. The disclosure for this sale can be found here. Insiders have sold a total of 75,233 shares of company stock worth $2,518,217 over the last three months. 3.80% of the stock is currently owned by insiders.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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