Sterling Capital Management LLC Sells 4,637 Shares of Performance Food Group Company $PFGC

Sterling Capital Management LLC cut its stake in shares of Performance Food Group Company (NYSE:PFGC) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,705 shares of the food distribution company’s stock after selling 4,637 shares during the period. Sterling Capital Management LLC’s holdings in Performance Food Group were worth $6,742,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $208,170,000. Wellington Management Group LLP lifted its holdings in Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after purchasing an additional 1,964,799 shares during the last quarter. Invesco Ltd. lifted its holdings 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 purchasing an additional 1,168,869 shares during the last quarter. Eminence Capital LP boosted its stake in Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock valued at $238,050,000 after purchasing an additional 998,249 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Performance Food Group in the 4th quarter valued at $81,020,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $110.45 on Friday. The stock has a market capitalization of $17.35 billion, a PE ratio of 52.59, a P/E/G ratio of 1.73 and a beta of 0.93. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The business has a fifty day moving average price of $96.53 and a two-hundred day moving average price of $93.06. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $110.66.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFGC. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday. Citigroup upped their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Barclays lifted their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

Insider Buying and Selling

In related news, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Erika T. Davis sold 1,750 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $183,750.00. Following the sale, the insider owned 43,041 shares in the company, valued at $4,519,305. The trade was a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,592 shares of company stock worth $2,741,865 in the last ninety days. 4.50% of the stock is owned by company insiders.

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.