Performance Food Group Company $PFGC Position Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in Performance Food Group Company (NYSE:PFGC) by 7.5% in the third quarter, Holdings Channel reports. The fund owned 70,556 shares of the food distribution company’s stock after selling 5,746 shares during the quarter. Sterling Capital Management LLC’s holdings in Performance Food Group were worth $6,457,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC acquired a new position in Performance Food Group in the 1st quarter worth about $28,000. Asset Planning Inc acquired a new stake in shares of Performance Food Group during the first quarter valued at about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Performance Food Group during the second quarter valued at about $51,000. Transamerica Financial Advisors LLC bought a new stake in shares of Performance Food Group during the second quarter worth about $54,000. Finally, Field & Main Bank bought a new stake in shares of Performance Food Group during the second quarter worth about $56,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFGC shares. Guggenheim upped their price objective on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research report on Thursday, August 13th. UBS Group reduced their target price 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. Finally, Weiss Ratings cut shares of Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Insider Buying and Selling

In related news, insider A. King sold 8,023 shares of Performance Food Group stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $836,076.83. Following the transaction, the insider directly owned 47,800 shares of the company’s stock, valued at $4,981,238. The trade was a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald S. Bulmer sold 10,535 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $105.90, for a total value of $1,115,656.50. Following the completion of the sale, the insider owned 54,291 shares in the company, valued at $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,459 shares of company stock valued at $4,317,917 over the last three months. 2.10% of the stock is owned by insiders.

Performance Food Group Stock Down 3.3%

Shares of NYSE:PFGC opened at $94.63 on Friday. The firm has a market cap of $14.91 billion, a P/E ratio of 41.33, a P/E/G ratio of 1.22 and a beta of 0.87. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The business has a fifty day simple moving average of $96.39 and a 200 day simple moving average of $99.87.

Performance Food Group (NYSE:PFGC) last announced its 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 return on equity of 15.15% and a net margin of 0.53%. The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Performance Food Group Profile

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.