Advisors Asset Management Inc. Decreases Position in Performance Food Group Co (PFGC)

Advisors Asset Management Inc. trimmed its holdings in Performance Food Group Co (NYSE:PFGC) by 29.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,564 shares of the restaurant operator’s stock after selling 2,775 shares during the quarter. Advisors Asset Management Inc.’s holdings in Performance Food Group were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in Performance Food Group during the 2nd quarter valued at about $219,000. NumerixS Investment Technologies Inc increased its stake in Performance Food Group by 57.5% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the restaurant operator’s stock valued at $234,000 after purchasing an additional 2,300 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Performance Food Group by 620.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,419 shares of the restaurant operator’s stock valued at $236,000 after purchasing an additional 5,528 shares in the last quarter. Brown Advisory Inc. bought a new stake in Performance Food Group during the 1st quarter valued at about $200,000. Finally, Jane Street Group LLC bought a new stake in Performance Food Group during the 2nd quarter valued at about $258,000. Institutional investors own 94.51% of the company’s stock.

Shares of NYSE PFGC opened at $32.63 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. The stock has a market cap of $3.44 billion, a PE ratio of 21.19, a P/E/G ratio of 1.08 and a beta of 0.54. Performance Food Group Co has a 52-week low of $27.35 and a 52-week high of $39.45.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 7th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. Performance Food Group had a net margin of 1.15% and a return on equity of 15.86%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. On average, equities research analysts forecast that Performance Food Group Co will post 1.74 earnings per share for the current fiscal year.

A number of analysts have weighed in on PFGC shares. Wells Fargo & Co raised their price objective on shares of Performance Food Group from $40.00 to $46.00 and gave the company a “$38.15” rating in a research note on Wednesday, July 18th. Guggenheim restated a “buy” rating and set a $43.00 price objective on shares of Performance Food Group in a research note on Friday, July 20th. Zacks Investment Research upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Friday, July 20th. Loop Capital raised their price objective on shares of Performance Food Group to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, BMO Capital Markets reduced their price objective on shares of Performance Food Group from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $38.45.

In related news, insider Carol A. O’connell sold 4,505 shares of the firm’s stock in a transaction that occurred 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 owns 20,891 shares of the company’s stock, valued at $710,294. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Patrick T. Hagerty sold 8,083 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $33.20, for a total transaction of $268,355.60. Following the completion of the transaction, the insider now directly owns 182,450 shares in the company, valued at approximately $6,057,340. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,294 shares of company stock worth $2,263,070. Insiders own 3.80% of the company’s stock.

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Performance Food Group Profile

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, including 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 beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

Further Reading: Diversification Important in Investing

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Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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