Seneca House Advisors Reduces Stock Position in Performance Food Group (NYSE:PFGC)

Seneca House Advisors cut its holdings in Performance Food Group (NYSE:PFGC) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,744 shares of the food distribution company’s stock after selling 3,905 shares during the quarter. Performance Food Group makes up approximately 2.8% of Seneca House Advisors’ holdings, making the stock its 15th largest holding. Seneca House Advisors owned about 0.06% of Performance Food Group worth $6,720,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PFGC. Northwestern Mutual Wealth Management Co. raised its holdings in Performance Food Group by 2.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock worth $469,000 after purchasing an additional 160 shares in the last quarter. CIBC Asset Management Inc raised its stake in Performance Food Group by 4.3% in the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock worth $289,000 after buying an additional 179 shares in the last quarter. Cetera Investment Advisers raised its stake in Performance Food Group by 0.4% in the second quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after buying an additional 186 shares in the last quarter. Hanlon Investment Management Inc. lifted its holdings in Performance Food Group by 1.4% in the first quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock worth $1,046,000 after buying an additional 194 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Performance Food Group by 1.9% during the 1st quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Activity

In related news, Director Kimberly Grant sold 4,000 shares of the 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 sale, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now owns 10,184 shares of the company’s stock, valued at $749,644.24. This represents a 0.00 % decrease in their position. 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 three months. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFGC shares. Morgan Stanley decreased their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. 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 report on Thursday, August 15th. BMO Capital Markets upped their target price on shares of 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, Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.00.

Performance Food Group Stock Performance

Shares of Performance Food Group stock traded up $0.40 during trading hours on Friday, reaching $78.65. 707,558 shares of the stock traded hands, compared to its average volume of 1,034,004. Performance Food Group has a one year low of $52.92 and a one year high of $79.59. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 0.85 and a beta of 1.45. 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 50 day moving average price of $72.90 and a 200 day moving average price of $70.47.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping 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 analysts’ expectations of $15.25 billion. During the same period last year, the firm earned $1.14 EPS. Performance Food Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group will post 4.87 earnings per share for the current fiscal 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.