Legal & General Group Plc Buys Shares of 221,464 Performance Food Group Company $PFGC

Legal & General Group Plc bought a new position in Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 221,464 shares of the food distribution company’s stock, valued at approximately $24,757,000.

Other hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Performance Food Group during the 1st quarter worth about $28,000. Asset Planning Inc acquired a new position in Performance Food Group in the first quarter worth approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Performance Food Group during the second quarter valued at approximately $51,000. Lloyd Advisory Services LLC. bought a new position in Performance Food Group during the fourth quarter valued at approximately $43,000. Finally, Clearstead Advisors LLC lifted its stake in Performance Food Group by 132.9% in the fourth 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 last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Donald S. Bulmer sold 10,535 shares of Performance Food Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $105.90, for a total value of $1,115,656.50. Following the transaction, the insider directly owned 54,291 shares in the company, valued at approximately $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider A Brent King sold 8,023 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $836,076.83. Following the transaction, the insider directly owned 47,800 shares of the company’s stock, valued at $4,981,238. This represents a 14.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,391 shares of company stock valued at $6,267,460 in the last quarter. Insiders own 4.50% of the company’s stock.

Performance Food Group Stock Down 1.3%

Shares of Performance Food Group stock opened at $100.78 on Friday. The stock has a market capitalization of $15.88 billion, a P/E ratio of 44.01, a PEG ratio of 1.30 and a beta of 0.91. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average price of $110.04 and a two-hundred day moving average price of $98.59. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Equities analysts expect that Performance Food Group Company will post 5.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. UBS Group reduced their price objective on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Guggenheim upped their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research report on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.90.

About Performance Food Group

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.