Mercer Global Advisors Inc. ADV Trims Stake in Performance Food Group (NYSE:PFGC)

Mercer Global Advisors Inc. ADV lessened its holdings in shares of Performance Food Group (NYSE:PFGC) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,887 shares of the food distribution company’s stock after selling 524 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Performance Food Group were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in Performance Food Group during the first quarter valued at approximately $29,000. Innealta Capital LLC purchased a new position in Performance Food Group in the 2nd quarter worth approximately $30,000. Mather Group LLC. bought a new position in Performance Food Group in the 1st quarter worth approximately $44,000. GAMMA Investing LLC grew its holdings in Performance Food Group by 65.2% during the 2nd 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 in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Performance Food Group during the second quarter worth $105,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 0.5 %

Shares of PFGC opened at $78.23 on Friday. The firm has a fifty day moving average price of $71.39 and a 200-day moving average price of $70.36. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $12.17 billion, a P/E ratio of 29.19, a P/E/G ratio of 0.85 and a beta of 1.44. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $79.59.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (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 firm had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Performance Food Group’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Performance Food Group will post 4.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

PFGC has been the topic of several research reports. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Truist Financial boosted their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley dropped their price objective on shares of 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. BMO Capital Markets lifted their price target on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their target price on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Insider Activity at Performance Food Group

In other news, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction dated Wednesday, August 21st. The shares were 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 owns 10,184 shares in the company, valued at approximately $749,644.24. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 over the last three months. 2.60% of the stock is owned by corporate insiders.

About Performance Food Group

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.