Braun Stacey Associates Inc. Decreases Stock Position in Performance Food Group Company $PFGC

Braun Stacey Associates Inc. cut its position in Performance Food Group Company (NYSE:PFGC) by 20.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 102,429 shares of the food distribution company’s stock after selling 26,660 shares during the period. Braun Stacey Associates Inc.’s holdings in Performance Food Group were worth $8,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Performance Food Group during the 4th quarter worth $41,000. Lloyd Advisory Services LLC. bought a new stake in Performance Food Group in the 4th quarter valued at about $43,000. Clearstead Advisors LLC raised its stake in Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after acquiring an additional 335 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 537 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Performance Food Group during the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Activity

In related news, insider A Brent King sold 6,111 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the sale, the insider owned 44,260 shares in the company, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of Performance Food Group stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. This represents a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 27,592 shares of company stock worth $2,741,865. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

PFGC has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday. Barclays boosted their price target 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. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Finally, Citigroup raised their price target on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $110.45 on Friday. The company has a 50 day moving average of $96.53 and a 200 day moving average of $93.06. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The stock has a market cap of $17.35 billion, a P/E ratio of 52.59, a P/E/G ratio of 1.73 and a beta of 0.93. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $110.66.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the prior year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

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.