Eaton Vance Management Sells 218,742 Shares of Performance Food Group Co (PFGC)

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Eaton Vance Management cut its holdings in shares of Performance Food Group Co (NYSE:PFGC) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,148,628 shares of the food distribution company’s stock after selling 218,742 shares during the period. Eaton Vance Management’s holdings in Performance Food Group were worth $37,066,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Performance Food Group by 3.6% during the third quarter. Vanguard Group Inc now owns 8,877,421 shares of the food distribution company’s stock worth $295,618,000 after acquiring an additional 304,740 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Performance Food Group by 3.6% during the third quarter. Vanguard Group Inc. now owns 8,877,421 shares of the food distribution company’s stock worth $295,618,000 after acquiring an additional 304,740 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Performance Food Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,158,083 shares of the food distribution company’s stock worth $271,664,000 after acquiring an additional 356,243 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Performance Food Group by 6.0% during the fourth quarter. Victory Capital Management Inc. now owns 4,446,020 shares of the food distribution company’s stock worth $143,473,000 after acquiring an additional 250,842 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Performance Food Group by 36.5% during the third quarter. Schroder Investment Management Group now owns 2,977,617 shares of the food distribution company’s stock worth $99,155,000 after acquiring an additional 796,504 shares in the last quarter. 96.55% of the stock is owned by institutional investors.

Performance Food Group stock opened at $38.90 on Friday. Performance Food Group Co has a fifty-two week low of $28.05 and a fifty-two week high of $39.68. The stock has a market cap of $4.13 billion, a P/E ratio of 25.26, a PEG ratio of 1.31 and a beta of 0.65. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.79 and a current ratio of 1.57.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, February 6th. The food distribution company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. Performance Food Group had a net margin of 0.94% and a return on equity of 15.39%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Performance Food Group Co will post 1.82 earnings per share for the current year.

Performance Food Group declared that its board has authorized a share buyback plan on Wednesday, November 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the food distribution company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several research firms have recently commented on PFGC. Zacks Investment Research raised shares of Performance Food Group from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Friday, February 8th. Pivotal Research reissued a “hold” rating and set a $37.00 target price on shares of Performance Food Group in a research report on Thursday, February 7th. ValuEngine raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. Wells Fargo & Co reissued a “buy” rating on shares of Performance Food Group in a research report on Friday, January 11th. Finally, Citigroup began coverage on shares of Performance Food Group in a report on Friday, December 21st. They set a “buy” rating and a $40.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Performance Food Group has an average rating of “Buy” and a consensus target price of $39.17.

In related news, Director Douglas M. Steenland sold 104,275 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $34.56, for a total transaction of $3,603,744.00. Following the transaction, the director now directly owns 134,365 shares in the company, valued at $4,643,654.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 105,625 shares of company stock worth $3,649,068. 3.80% of the stock is owned by corporate insiders.

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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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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