Junto Capital Management LP Cuts Stock Holdings in Performance Food Group Company $PFGC

Junto Capital Management LP reduced its stake in shares of Performance Food Group Company (NYSE:PFGC) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 998,146 shares of the food distribution company’s stock after selling 40,496 shares during the quarter. Performance Food Group accounts for approximately 2.0% of Junto Capital Management LP’s portfolio, making the stock its 15th largest holding. Junto Capital Management LP’s holdings in Performance Food Group were worth $111,583,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in shares of Performance Food Group by 10,766.1% in the 2nd quarter. California State Teachers Retirement System now owns 19,960,216 shares of the food distribution company’s stock valued at $2,231,353,000 after acquiring an additional 19,776,523 shares during the last quarter. BlackRock Inc. bought a new position in Performance Food Group during the 2nd quarter worth approximately $1,576,983,000. Primecap Management Co. CA purchased a new position in Performance Food Group in the 2nd quarter worth approximately $305,064,000. Norges Bank purchased a new position in Performance Food Group in the 4th quarter worth approximately $208,170,000. Finally, Wellington Management Group LLP lifted its position in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after purchasing an additional 1,964,799 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 1.3%

PFGC stock opened at $95.52 on Thursday. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. The business’s 50 day moving average price is $108.41 and its two-hundred day moving average price is $98.75. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data 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 firm had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.11 billion. During the same period in the prior year, the business posted $0.84 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts forecast that Performance Food Group Company will post 5.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Erika T. Davis sold 8,008 shares of Performance Food Group stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $104.21, for a total value of $834,513.68. Following the completion of the transaction, the insider directly owned 43,986 shares of the company’s stock, valued at approximately $4,583,781.06. The trade was a 15.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hugh Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the sale, the insider directly owned 58,167 shares of the company’s stock, valued at $5,769,003.06. This trade represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,910 shares of company stock worth $5,335,910 over the last three months. 4.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PFGC. TD Cowen dropped their price objective on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Weiss Ratings raised shares of Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Wells Fargo & Company upped their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Citigroup increased their price target on shares of Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, UBS Group cut their price target on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and a consensus target price of $126.90.

Performance Food Group Company Profile

Performance Food Group Company (NYSE:PFGC) is a food and food-related products distributor serving businesses across the United States and Canada. The company supplies restaurants, foodservice operators, schools, healthcare facilities, hospitality businesses, vending and entertainment venues, and convenience stores.

Performance Food Group operates through three primary businesses: Foodservice, Vistar and Convenience. Its offerings include fresh and frozen foods, dry groceries, beverages, ingredients, disposable supplies, and specialty products such as candy, snacks and theater concessions.