Coronation Fund Managers Ltd. Decreases Stock Position in Performance Food Group (NYSE:PFGC)

Coronation Fund Managers Ltd. trimmed its position in shares of Performance Food Group (NYSE:PFGC) by 14.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,125 shares of the food distribution company’s stock after selling 21,993 shares during the quarter. Coronation Fund Managers Ltd. owned approximately 0.08% of Performance Food Group worth $8,338,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PFGC. Capital World Investors lifted its stake in Performance Food Group by 0.5% in the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock worth $1,606,782,000 after purchasing an additional 100,244 shares in the last quarter. Wellington Management Group LLP lifted its position in Performance Food Group by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after buying an additional 397,114 shares in the last quarter. Eminence Capital LP boosted its stake in Performance Food Group by 7.4% during the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after buying an additional 164,472 shares during the last quarter. Jennison Associates LLC grew its holdings in Performance Food Group by 2.5% in the 1st quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock valued at $175,383,000 after buying an additional 56,242 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after acquiring an additional 1,770,683 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Performance Food Group 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 sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 transaction of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares of the company’s stock, valued at $749,644.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider George L. Holm sold 63,500 shares of the firm’s 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 completion of the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,500 shares of company stock valued at $7,426,075. 2.60% of the stock is currently owned by company insiders.

Performance Food Group Stock Down 0.2 %

Shares of NYSE PFGC opened at $78.19 on Wednesday. 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 business’s 50 day moving average is $72.10 and its two-hundred day moving average is $70.34. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $79.59. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 0.85 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, beating 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 firm 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 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Performance Food Group will post 4.87 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets lifted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased their price objective on Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Truist Financial lifted their target price on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average price target of $87.00.

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.