First Eagle Investment Management LLC Increases Stock Holdings in Performance Food Group (NYSE:PFGC)

First Eagle Investment Management LLC raised its position in shares of Performance Food Group (NYSE:PFGC) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,921 shares of the food distribution company’s stock after buying an additional 1,950 shares during the quarter. First Eagle Investment Management LLC’s holdings in Performance Food Group were worth $854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in Performance Food Group by 4.3% during the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock valued at $289,000 after buying an additional 179 shares during the period. Hanlon Investment Management Inc. lifted its position in Performance Food Group by 1.4% during the first quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock valued at $1,046,000 after buying an additional 194 shares during the period. QRG Capital Management Inc. lifted its position in Performance Food Group by 5.8% during the first quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock valued at $317,000 after buying an additional 233 shares during the period. GAMMA Investing LLC lifted its position in Performance Food Group by 65.2% during the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock valued at $58,000 after buying an additional 349 shares during the period. Finally, Rise Advisors LLC purchased a new position in Performance Food Group during the first quarter valued at $29,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Morgan Stanley lowered their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Barclays raised their price target on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company raised their price target on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.38.

Performance Food Group Price Performance

NYSE PFGC opened at $77.01 on Friday. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The stock has a 50-day moving average of $70.38 and a 200 day moving average of $70.28. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 0.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the company earned $1.14 EPS. Performance Food Group’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Performance Food Group will post 4.87 EPS for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,500 shares of company stock valued at $7,426,075. Insiders own 2.60% of the company’s stock.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.