Massachusetts Financial Services Co. MA Acquires New Holdings in Performance Food Group (NYSE:PFGC)

Massachusetts Financial Services Co. MA acquired a new stake in shares of Performance Food Group (NYSE:PFGC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,394 shares of the food distribution company’s stock, valued at approximately $357,000.

A number of other institutional investors also recently added to or reduced their stakes in PFGC. Point72 Asset Management L.P. raised its stake in Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after buying an additional 1,770,683 shares during the last quarter. Wellington Management Group LLP raised its stake in Performance Food Group by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after buying an additional 397,114 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Performance Food Group in the fourth quarter valued at about $11,410,000. Vaughan Nelson Investment Management L.P. raised its stake in Performance Food Group by 30.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 505,371 shares of the food distribution company’s stock valued at $33,410,000 after buying an additional 116,659 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in Performance Food Group in the fourth quarter valued at about $8,064,000. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

PFGC has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Barclays raised their price objective on Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group raised their price objective on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley reduced 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 note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.38.

Insider Buying and Selling at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Performance Food Group Price Performance

NYSE:PFGC opened at $77.62 on Tuesday. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $12.08 billion, a P/E ratio of 28.96, a P/E/G ratio of 0.82 and a beta of 1.44. The stock’s fifty day moving average is $70.65 and its two-hundred day moving average is $70.24.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts expect that Performance Food Group will post 4.87 EPS for the current year.

Performance Food Group 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.