GW&K Investment Management LLC Has $87.57 Million Stock Position in Performance Food Group Company $PFGC

GW&K Investment Management LLC lowered its stake in Performance Food Group Company (NYSE:PFGC) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 973,826 shares of the food distribution company’s stock after selling 22,544 shares during the quarter. Performance Food Group makes up approximately 0.8% of GW&K Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. GW&K Investment Management LLC owned approximately 0.62% of Performance Food Group worth $87,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Performance Food Group by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock valued at $1,134,000 after acquiring an additional 113 shares during the last quarter. US Bancorp DE increased its position in shares of Performance Food Group by 4.6% in the third quarter. US Bancorp DE now owns 3,283 shares of the food distribution company’s stock valued at $342,000 after acquiring an additional 144 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in Performance Food Group by 6.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock worth $243,000 after buying an additional 173 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in Performance Food Group by 0.8% during the second quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company’s stock worth $2,183,000 after buying an additional 189 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Performance Food Group by 8.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,385 shares of the food distribution company’s stock worth $214,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Trading Up 2.4%

Shares of PFGC stock opened at $99.73 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The stock has a market cap of $15.67 billion, a P/E ratio of 47.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The stock has a 50 day simple moving average of $91.82 and a 200 day simple moving average of $92.15. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $109.05.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. On average, research analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the sale, the insider directly owned 44,655 shares in the company, valued at $4,221,683.70. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total value of $166,250.00. Following the sale, the insider owned 44,791 shares of the company’s stock, valued at $4,255,145. The trade was a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,891 shares of company stock valued at $1,232,460. 4.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of recent analyst reports. Barclays boosted their price target on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Citigroup boosted their price objective on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Finally, Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $119.00.

About Performance Food Group

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.