Hsbc Holdings PLC Sells 32,629 Shares of Performance Food Group Company $PFGC

Hsbc Holdings PLC lessened its position in Performance Food Group Company (NYSE:PFGC) by 66.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,322 shares of the food distribution company’s stock after selling 32,629 shares during the quarter. Hsbc Holdings PLC’s holdings in Performance Food Group were worth $1,381,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Performance Food Group in the first quarter valued at approximately $60,000. Oregon Public Employees Retirement Fund boosted its holdings in Performance Food Group by 3.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 32,245 shares of the food distribution company’s stock worth $2,762,000 after purchasing an additional 955 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Performance Food Group by 8.2% during the first quarter. QRG Capital Management Inc. now owns 6,143 shares of the food distribution company’s stock worth $526,000 after purchasing an additional 465 shares during the last quarter. HB Wealth Management LLC grew its position in Performance Food Group by 3.8% in the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after purchasing an additional 122 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in Performance Food Group by 4.8% in the first quarter. New York State Teachers Retirement System now owns 178,399 shares of the food distribution company’s stock valued at $15,282,000 after purchasing an additional 8,112 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Insiders Place Their Bets

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the transaction, the insider directly owned 44,655 shares of the company’s stock, valued at $4,221,683.70. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction on 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 transaction, the director owned 11,935 shares in the company, valued at approximately $1,133,825. This represents a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 30,187 shares of company stock worth $3,027,315. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PFGC shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. TD Cowen started coverage on Performance Food Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $128.00 price objective for the company. Wells Fargo & Company upped their target price on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Citigroup raised their price target on Performance Food Group from $135.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.82.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $114.31 on Tuesday. The company has a fifty day moving average price of $105.04 and a two-hundred day moving average price of $96.11. Performance Food Group Company has a one year low of $80.82 and a one year high of $116.42. The stock has a market cap of $17.96 billion, a P/E ratio of 54.43, a P/E/G ratio of 1.40 and a beta of 0.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68.

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

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.