SG Americas Securities LLC Trims Stake in Performance Food Group (NYSE:PFGC)

SG Americas Securities LLC lowered its stake in shares of Performance Food Group (NYSE:PFGC) by 85.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,978 shares of the food distribution company’s stock after selling 29,155 shares during the period. SG Americas Securities LLC’s holdings in Performance Food Group were worth $390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments Inc increased its position in shares of Performance Food Group by 79.3% during the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after buying an additional 12,919 shares during the period. Assenagon Asset Management S.A. bought a new stake in Performance Food Group during the second quarter worth about $6,843,000. BNP Paribas bought a new stake in Performance Food Group during the first quarter worth about $1,251,000. Capstone Investment Advisors LLC bought a new stake in Performance Food Group during the first quarter worth about $1,030,000. Finally, Magnetar Financial LLC bought a new stake in Performance Food Group during the first quarter worth about $1,913,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 0.1 %

Shares of PFGC stock opened at $83.20 on Friday. Performance Food Group has a 12 month low of $54.71 and a 12 month high of $83.70. The stock has a market cap of $12.95 billion, a P/E ratio of 31.04, a P/E/G ratio of 0.88 and a beta of 1.45. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a 50 day simple moving average of $75.55 and a two-hundred day simple moving average of $70.80.

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, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Performance Food Group will post 4.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays boosted their price objective 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. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial boosted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. 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. Finally, Morgan Stanley dropped their target price on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average target price of $87.63.

Insider Buying and Selling at Performance Food Group

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 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 of the company’s stock, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction 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 sale, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,500 shares of company stock valued at $7,426,075. 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.