M&T Bank Corp Purchases 85,672 Shares of Performance Food Group Company $PFGC

M&T Bank Corp boosted its position in Performance Food Group Company (NYSE:PFGC) by 2,572.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,003 shares of the food distribution company’s stock after acquiring an additional 85,672 shares during the quarter. M&T Bank Corp’s holdings in Performance Food Group were worth $8,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC bought a new position in Performance Food Group in the third quarter valued at $1,666,000. Braun Stacey Associates Inc. bought a new position in Performance Food Group in the third quarter valued at $13,055,000. Strs Ohio increased its stake in Performance Food Group by 54.4% in the third quarter. Strs Ohio now owns 149,751 shares of the food distribution company’s stock valued at $15,580,000 after acquiring an additional 52,734 shares during the last quarter. Maven Securities LTD bought a new position in Performance Food Group in the third quarter valued at $2,589,000. Finally, Close Asset Management Ltd increased its stake in Performance Food Group by 7.5% in the third quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company’s stock valued at $216,536,000 after acquiring an additional 145,387 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Performance Food Group stock opened at $90.21 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average of $89.37 and a 200-day moving average of $93.14. The firm has a market cap of $14.15 billion, a P/E ratio of 41.01, a P/E/G ratio of 1.42 and a beta of 0.94. Performance Food Group Company has a 1-year low of $77.44 and a 1-year high of $109.05.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The firm had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts expect that Performance Food Group Company will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Barclays cut their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Citigroup cut their price target on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, UBS Group cut their price target on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

Insider Buying and Selling at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction dated Tuesday, February 10th. The shares were 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 in the company, valued at approximately $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Performance Food Group Company 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.