10,340 Performance Food Group Company $PFGC Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC reduced its position in shares of Performance Food Group Company (NYSE:PFGC) by 37.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,258 shares of the food distribution company’s stock after selling 10,340 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Performance Food Group were worth $1,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Performance Food Group in the 2nd quarter worth $1,576,983,000. Primecap Management Co. CA purchased a new position in shares of Performance Food Group in the second quarter valued at about $305,064,000. Dimensional Fund Advisors LP raised its stake in shares of Performance Food Group by 32.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock valued at $215,418,000 after acquiring an additional 619,572 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Performance Food Group during the second quarter valued at about $105,756,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Performance Food Group during the second quarter valued at about $94,236,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Up 1.1%

Shares of PFGC opened at $97.27 on Friday. The firm’s 50-day moving average price is $95.87 and its 200-day moving average price is $97.37. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.24 and a beta of 0.87. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results 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 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 quarter in the prior year, the firm earned $0.84 EPS. Performance Food Group’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that Performance Food Group Company will post 5.58 EPS for the current year.

Analyst Ratings Changes

PFGC has been the topic of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. TD Cowen dropped their price objective on Performance Food Group from $115.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Weiss Ratings cut Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Insider Buying and Selling at Performance Food Group

In other news, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total value of $297,540.00. Following the completion of the transaction, the insider owned 58,167 shares of the company’s stock, valued at approximately $5,769,003.06. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erika T. Davis sold 1,320 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $138,982.80. Following the completion of the transaction, the insider owned 40,402 shares of the company’s stock, valued at approximately $4,253,926.58. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 41,459 shares of company stock worth $4,317,917. Insiders own 2.10% of the company’s stock.

About Performance Food Group

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.