Braun Stacey Associates Inc. Increases Stock Holdings in Performance Food Group Company $PFGC

Braun Stacey Associates Inc. boosted its stake in Performance Food Group Company (NYSE:PFGC) by 23.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 126,004 shares of the food distribution company’s stock after acquiring an additional 23,575 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Performance Food Group were worth $14,086,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFGC. Cedar Mountain Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter worth about $28,000. Asset Planning Inc acquired a new stake in Performance Food Group in the 1st quarter worth about $35,000. Torren Management LLC acquired a new stake in Performance Food Group in the 4th quarter worth about $41,000. Lloyd Advisory Services LLC. purchased a new stake in Performance Food Group during the 4th quarter worth approximately $43,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Performance Food Group during the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

PFGC stock opened at $100.78 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The business has a 50 day simple moving average of $110.04 and a 200-day simple moving average of $98.59. The firm has a market capitalization of $15.88 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. 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 posted its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 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 during the quarter, compared to analyst estimates of $18.11 billion. During the same period in the prior year, the business posted $0.84 EPS. Performance Food Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PFGC shares. TD Cowen reduced their target price on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Morgan Stanley boosted their price target on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings raised Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. UBS Group decreased their price objective on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Guggenheim upped their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.90.

Insider Activity

In other news, insider A Brent King sold 1,320 shares of Performance Food Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the sale, the insider owned 44,216 shares of the company’s stock, valued at approximately $4,655,502.64. The trade was a 2.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chasity D. Grosh sold 643 shares of Performance Food Group 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 sale, the insider owned 7,222 shares in the company, valued at $754,121.24. This represents a 8.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,391 shares of company stock worth $6,267,460 over the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group 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.