Performance Food Group Company $PFGC is Sunriver Management LLC’s 2nd Largest Position

Sunriver Management LLC lessened its stake in shares of Performance Food Group Company (NYSE:PFGC) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 655,400 shares of the food distribution company’s stock after selling 72,316 shares during the period. Performance Food Group accounts for approximately 6.1% of Sunriver Management LLC’s investment portfolio, making the stock its 2nd biggest position. Sunriver Management LLC’s holdings in Performance Food Group were worth $57,328,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in 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 worth $58,000 after buying an additional 537 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Performance Food Group in the second quarter worth approximately $24,726,000. M&T Bank Corp increased its position in shares of Performance Food Group by 3.8% during the second quarter. M&T Bank Corp now owns 19,607 shares of the food distribution company’s stock worth $1,715,000 after purchasing an additional 724 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of Performance Food Group by 110.8% during the second quarter. Edgestream Partners L.P. now owns 82,921 shares of the food distribution company’s stock worth $7,253,000 after purchasing an additional 43,579 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Performance Food Group by 0.4% in the 2nd quarter. New York State Common Retirement Fund now owns 739,226 shares of the food distribution company’s stock valued at $64,660,000 after purchasing an additional 2,607 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Price Performance

Shares of PFGC stock opened at $92.53 on Thursday. The firm’s 50-day moving average is $98.71 and its two-hundred day moving average is $96.58. Performance Food Group Company has a 12 month low of $68.39 and a 12 month high of $109.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.67 and a quick ratio of 0.70. The company has a market capitalization of $14.51 billion, a PE ratio of 44.49, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The business had revenue of $17.08 billion during the quarter, compared to the consensus estimate of $16.87 billion. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. Analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PFGC shares. Wall Street Zen cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. UBS Group boosted their price target on shares of Performance Food Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Performance Food Group in a report on Tuesday, August 26th. Barclays raised their target price on shares of Performance Food Group from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Sanford C. Bernstein assumed coverage on Performance Food Group in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $130.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.60.

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.