WCM Investment Management LLC Sells 75,929 Shares of Performance Food Group Company (NYSE:PFGC)

WCM Investment Management LLC cut its position in shares of Performance Food Group Company (NYSE:PFGC) by 29.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,619 shares of the food distribution company’s stock after selling 75,929 shares during the period. WCM Investment Management LLC’s holdings in Performance Food Group were worth $14,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in PFGC. Capital World Investors boosted its stake in shares of Performance Food Group by 0.7% during the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company’s stock valued at $1,849,809,000 after purchasing an additional 157,987 shares in the last quarter. FMR LLC lifted its holdings in Performance Food Group by 0.6% during the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company’s stock worth $1,132,231,000 after buying an additional 78,855 shares during the period. Victory Capital Management Inc. boosted its position in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after acquiring an additional 2,371,818 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Performance Food Group by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company’s stock valued at $330,560,000 after acquiring an additional 147,080 shares during the period. Finally, Eminence Capital LP raised its position in shares of Performance Food Group by 3.2% in the 4th quarter. Eminence Capital LP now owns 2,579,368 shares of the food distribution company’s stock worth $218,086,000 after acquiring an additional 79,591 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Shares of PFGC opened at $88.18 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.61 and a quick ratio of 0.73. The company’s fifty day moving average price is $85.82 and its 200-day moving average price is $83.54. Performance Food Group Company has a 1-year low of $61.60 and a 1-year high of $92.44. The firm has a market capitalization of $13.76 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, equities research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the topic of a number of recent research reports. Truist Financial dropped their price objective on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Barclays increased their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. UBS Group lifted their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of Performance Food Group from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Finally, Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the company an “overweight” rating in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.08.

Insiders Place Their Bets

In related news, insider Erika T. Davis sold 8,200 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the sale, the insider directly owned 46,722 shares in the company, valued at approximately $4,191,897.84. The trade was a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald S. Bulmer sold 2,404 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $90.00, for a total transaction of $216,360.00. Following the completion of the transaction, the insider directly owned 51,350 shares in the company, valued at approximately $4,621,500. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,972 shares of company stock worth $5,964,073. Company insiders own 2.80% of the company’s stock.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.