Performance Food Group (NYSE:PFGC) Stake Lessened by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its stake in Performance Food Group (NYSE:PFGC) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,620 shares of the food distribution company’s stock after selling 3,462 shares during the period. William Blair Investment Management LLC owned about 0.06% of Performance Food Group worth $6,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Performance Food Group in the first quarter worth $29,000. Innealta Capital LLC bought a new stake in shares of Performance Food Group in the second quarter worth $30,000. Mather Group LLC. bought a new stake in shares of Performance Food Group in the first quarter worth $44,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 349 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in Performance Food Group during the fourth quarter valued at $87,000. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PFGC. BMO Capital Markets boosted their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Barclays boosted their target price on shares of Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group boosted their target price on shares of Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley lowered their target price 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

Insider Buying and Selling

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimberly Grant sold 4,000 shares of the business’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 sale, 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 valued at $7,426,075 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Performance Food Group Stock Performance

PFGC stock opened at $75.28 on Tuesday. The company has a market capitalization of $11.73 billion, a P/E ratio of 28.09, a PEG ratio of 0.80 and a beta of 1.44. The company has a 50-day simple moving average of $69.31 and a 200 day simple moving average of $70.25. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two 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.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Sell-side analysts predict that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

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.