State of Wyoming Buys New Stake in Performance Food Group Company $PFGC

State of Wyoming purchased a new position in shares of Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,407 shares of the food distribution company’s stock, valued at approximately $1,387,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFGC. Capital World Investors increased its position in shares of Performance Food Group by 1.0% during the fourth quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after purchasing an additional 216,720 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after purchasing an additional 1,964,799 shares during the period. Geode Capital Management LLC boosted its position in shares of Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock valued at $252,207,000 after purchasing an additional 36,031 shares during the period. Eminence Capital LP grew its stake in Performance Food Group by 60.5% during the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after buying an additional 998,249 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after buying an additional 1,168,869 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kimberly Grant sold 2,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. This trade represents a 17.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erika T. Davis sold 2,595 shares of Performance Food Group stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.00, for a total transaction of $285,450.00. Following the completion of the transaction, the insider owned 40,446 shares in the company, valued at approximately $4,449,060. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 27,187 shares of company stock valued at $2,743,695. Company insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday. TD Cowen lowered their target price on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday. Guggenheim lifted their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday. Finally, UBS Group reduced their price target on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a research report on Friday. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.

Performance Food Group Stock Performance

NYSE PFGC opened at $107.07 on Friday. The firm has a market cap of $16.87 billion, a P/E ratio of 46.76, a P/E/G ratio of 1.36 and a beta of 0.91. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $117.47. The business’s 50-day moving average price is $109.79 and its 200 day moving average price is $97.96. The company has a quick ratio of 0.68, a current ratio of 1.51 and a debt-to-equity ratio of 1.34.

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

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.