Amalgamated Bank Lowers Position in Performance Food Group (NYSE:PFGC)

Amalgamated Bank lowered its stake in shares of Performance Food Group (NYSE:PFGC) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,312 shares of the food distribution company’s stock after selling 8,965 shares during the period. Amalgamated Bank owned approximately 0.06% of Performance Food Group worth $6,433,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PFGC. Norges Bank purchased a new position in shares of Performance Food Group in the 4th quarter worth $119,726,000. Coldstream Capital Management Inc. acquired a new stake in Performance Food Group during the fourth quarter worth about $304,000. Corient Private Wealth LLC raised its holdings in shares of Performance Food Group by 47.1% in the 4th quarter. Corient Private Wealth LLC now owns 36,333 shares of the food distribution company’s stock worth $2,512,000 after purchasing an additional 11,626 shares during the period. Aigen Investment Management LP acquired a new position in shares of Performance Food Group in the 4th quarter valued at about $595,000. Finally, Advisory Services Network LLC grew its holdings in shares of Performance Food Group by 10.7% during the 4th quarter. Advisory Services Network LLC now owns 6,181 shares of the food distribution company’s stock worth $427,000 after purchasing an additional 598 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Up 2.0 %

Shares of NYSE PFGC opened at $77.02 on Friday. 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 has a 1 year low of $52.92 and a 1 year high of $78.54. The stock’s 50-day simple moving average is $70.12 and its 200-day simple moving average is $70.33. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 0.80 and a beta of 1.44.

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 (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. Performance Food Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. As a group, equities analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other 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 sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott E. Mcpherson sold 25,000 shares of the firm’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 owns 149,863 shares in the company, 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 in the last ninety days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PFGC. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Barclays upped their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Jefferies Financial Group raised their price objective on Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Truist Financial upped their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

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.