Advisors Asset Management Inc. decreased its stake in Performance Food Group Co (NYSE:PFGC) by 96.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 365 shares of the restaurant operator’s stock after selling 8,974 shares during the period. Advisors Asset Management Inc.’s holdings in Performance Food Group were worth $241,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Performance Food Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,908,499 shares of the restaurant operator’s stock valued at $70,044,000 after buying an additional 168,076 shares in the last quarter. NumerixS Investment Technologies Inc boosted its stake in Performance Food Group by 57.5% in the second quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the restaurant operator’s stock worth $234,000 after purchasing an additional 2,300 shares in the last quarter. Commonwealth Bank of Australia acquired a new position in Performance Food Group in the second quarter worth $885,000. Sterling Capital Management LLC acquired a new position in Performance Food Group in the second quarter worth $24,545,000. Finally, Chicago Equity Partners LLC boosted its stake in Performance Food Group by 19.2% in the second quarter. Chicago Equity Partners LLC now owns 115,455 shares of the restaurant operator’s stock worth $4,237,000 after purchasing an additional 18,625 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of PFGC opened at $28.33 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Performance Food Group Co has a 12-month low of $26.35 and a 12-month high of $39.45. The firm has a market cap of $3.49 billion, a PE ratio of 18.40, a PEG ratio of 1.09 and a beta of 0.18.
Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, August 15th. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Performance Food Group had a net margin of 1.13% and a return on equity of 15.58%. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $0.48 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that Performance Food Group Co will post 1.74 EPS for the current fiscal year.
In other news, insider Carol A. O’connell sold 6,939 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $36.77, for a total transaction of $255,147.03. Following the transaction, the insider now owns 50,474 shares of the company’s stock, valued at $1,855,928.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carol A. O’connell sold 4,505 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $34.00, for a total value of $153,170.00. Following the transaction, the insider now directly owns 20,891 shares in the company, valued at approximately $710,294. The disclosure for this sale can be found here. Insiders have sold 75,233 shares of company stock worth $2,521,056 in the last ninety days. 3.70% of the stock is currently owned by insiders.
PFGC has been the topic of a number of recent analyst reports. Wells Fargo & Co boosted their price objective on Performance Food Group from $40.00 to $46.00 and gave the stock a “$38.15” rating in a research note on Wednesday, July 18th. Guggenheim reissued a “buy” rating and issued a $43.00 price objective on shares of Performance Food Group in a research note on Friday, July 20th. Zacks Investment Research raised Performance Food Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Friday, July 20th. Loop Capital boosted their price objective on Performance Food Group to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Finally, BMO Capital Markets reduced their price objective on Performance Food Group from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Performance Food Group has a consensus rating of “Hold” and a consensus target price of $38.40.
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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, such as 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 seafood products, shortenings and oils, baked goods, and salad dressings.
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