Atria Investments Inc Lowers Stock Position in Performance Food Group (NYSE:PFGC)

Atria Investments Inc lessened its position in shares of Performance Food Group (NYSE:PFGC) by 38.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,980 shares of the food distribution company’s stock after selling 11,813 shares during the quarter. Atria Investments Inc’s holdings in Performance Food Group were worth $1,487,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Performance Food Group by 12.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company’s stock worth $396,000 after acquiring an additional 584 shares during the period. QRG Capital Management Inc. increased its position in shares of Performance Food Group by 5.8% during the first quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock valued at $317,000 after acquiring an additional 233 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Performance Food Group during the first quarter valued at about $413,000. First Eagle Investment Management LLC boosted its stake in shares of Performance Food Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after purchasing an additional 200 shares during the period. Finally, Blair William & Co. IL purchased a new position in shares of Performance Food Group in the first quarter valued at approximately $213,000. Institutional investors own 96.87% of the company’s stock.

Insider Activity

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. 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 company’s 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 transaction, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This trade represents a 10.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock worth $7,426,075 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Trading Down 3.0 %

PFGC stock opened at $83.20 on Friday. The business has a fifty day moving average price of $79.82 and a 200 day moving average price of $72.63. Performance Food Group has a fifty-two week low of $61.29 and a fifty-two week high of $89.00. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 0.92 and a beta of 1.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same period last year, the business posted $1.15 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Performance Food Group will post 4.71 EPS for the current fiscal year.

Analysts Set New Price Targets

PFGC has been the subject of several recent analyst reports. Morgan Stanley restated an “equal weight” rating and set a $92.00 price objective on shares of Performance Food Group in a research report on Monday, October 28th. BMO Capital Markets lifted their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays lifted their price objective on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Guggenheim upped their target price on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

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.