Truist Financial Corp Has $10.32 Million Stock Position in Performance Food Group (NYSE:PFGC)

Truist Financial Corp lessened its holdings in Performance Food Group (NYSE:PFGC) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,164 shares of the food distribution company’s stock after selling 32,081 shares during the period. Truist Financial Corp owned about 0.10% of Performance Food Group worth $10,324,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Atria Investments Inc boosted its holdings in Performance Food Group by 79.3% during the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after acquiring an additional 12,919 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Performance Food Group during the second quarter worth about $6,843,000. BNP Paribas bought a new stake in Performance Food Group in the 1st quarter worth about $1,251,000. Capstone Investment Advisors LLC bought a new position in shares of Performance Food Group during the 1st quarter worth approximately $1,030,000. Finally, Magnetar Financial LLC purchased a new position in shares of Performance Food Group in the 1st quarter worth approximately $1,913,000. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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 report on Thursday, August 15th. Barclays raised 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 note on Thursday, August 15th. Truist Financial upped their price objective on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their target price on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company increased their price target on Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Performance Food Group Stock Performance

NYSE PFGC opened at $78.65 on Friday. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $79.59. The company has a fifty day moving average of $72.90 and a 200-day moving average of $70.43. The company has a market capitalization of $12.24 billion, a P/E ratio of 29.35, a P/E/G ratio of 0.85 and a beta of 1.45. 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 (NYSE:PFGC) last issued its earnings results 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 business had revenue of $15.20 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, equities research analysts predict that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction 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 $39,085,312.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company’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 transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction that occurred 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 completion of the sale, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock valued at $7,426,075 in the last ninety days. Company insiders own 2.60% of the company’s stock.

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.