Corient Private Wealth LP Makes New $3.53 Million Investment in Performance Food Group Company $PFGC

Corient Private Wealth LP bought a new stake in shares of Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 31,604 shares of the food distribution company’s stock, valued at approximately $3,533,000.

Several other hedge funds and other institutional investors have also modified their holdings of PFGC. Bank of America Corp DE acquired a new stake in Performance Food Group during the 2nd quarter worth about $78,474,000. Freestone Grove Partners LP purchased a new stake in shares of Performance Food Group in the second quarter worth approximately $67,956,000. Man Group plc purchased a new stake in shares of Performance Food Group in the second quarter worth approximately $6,563,000. Jupiter Topco LLC acquired a new stake in shares of Performance Food Group during the second quarter worth approximately $7,863,000. Finally, Hsbc Holdings PLC purchased a new position in Performance Food Group during the second quarter valued at approximately $252,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Down 0.0%

Performance Food Group stock opened at $99.15 on Wednesday. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 43.30, a P/E/G ratio of 1.27 and a beta of 0.88. The firm has a fifty day moving average price of $109.86 and a two-hundred day moving average price of $98.76. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67.

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

Insider Transactions at Performance Food Group

In other news, insider Erika T. Davis sold 1,320 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the sale, the insider directly owned 40,402 shares in the company, valued at approximately $4,253,926.58. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chasity D. Grosh sold 643 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $67,142.06. Following the completion of the transaction, the insider owned 7,222 shares of the company’s stock, valued at $754,121.24. The trade was a 8.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,750 shares of company stock worth $5,722,370 over the last quarter. 4.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PFGC shares. Morgan Stanley upped their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Guggenheim boosted their price target 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. TD Cowen dropped their price target on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average price target of $126.90.

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.