Shell Asset Management Co. Has $448,000 Stake in Performance Food Group Company $PFGC

Shell Asset Management Co. cut its stake in shares of Performance Food Group Company (NYSE:PFGC) by 56.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,307 shares of the food distribution company’s stock after selling 5,636 shares during the quarter. Shell Asset Management Co.’s holdings in Performance Food Group were worth $448,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of Performance Food Group by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after acquiring an additional 184,066 shares during the last quarter. Empowered Funds LLC acquired a new stake in Performance Food Group during the 1st quarter valued at approximately $359,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Performance Food Group during the 2nd quarter worth approximately $666,000. Ethic Inc. acquired a new position in shares of Performance Food Group in the 2nd quarter worth approximately $1,371,000. Finally, Forum Financial Management LP boosted its stake in shares of Performance Food Group by 8.3% in the 2nd quarter. Forum Financial Management LP now owns 3,555 shares of the food distribution company’s stock valued at $311,000 after purchasing an additional 273 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PFGC shares. Citigroup lowered their target price on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Morgan Stanley lowered their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Piper Sandler dropped their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Zacks Research cut Performance Food Group from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Finally, Barclays dropped their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the sale, the insider directly owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Performance Food Group Stock Performance

Shares of PFGC opened at $98.25 on Wednesday. The stock has a 50 day moving average price of $93.17 and a two-hundred day moving average price of $97.53. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $109.05. The firm has a market capitalization of $15.41 billion, a P/E ratio of 44.66, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The company had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.54 billion. During the same quarter last year, the business posted $0.98 earnings per share. Performance Food Group’s revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Performance Food Group Company will post 4.58 earnings per share 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.