Peregrine Capital Management LLC Sells 4,959 Shares of Performance Food Group Company $PFGC

Peregrine Capital Management LLC reduced its stake in Performance Food Group Company (NYSE:PFGC) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,416 shares of the food distribution company’s stock after selling 4,959 shares during the period. Peregrine Capital Management LLC owned 0.07% of Performance Food Group worth $9,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Performance Food Group by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock valued at $125,972,000 after purchasing an additional 121,202 shares during the period. Maven Securities LTD purchased a new stake in Performance Food Group in the third quarter worth $2,589,000. Assenagon Asset Management S.A. raised its holdings in Performance Food Group by 10.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company’s stock worth $44,124,000 after purchasing an additional 45,867 shares in the last quarter. Capital World Investors lifted its position in Performance Food Group by 0.8% during the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock valued at $2,335,371,000 after buying an additional 185,624 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Performance Food Group by 7.3% during the 4th quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock valued at $18,645,000 after buying an additional 14,173 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFGC. Citigroup increased their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays boosted their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Guggenheim upped their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Activity

In related news, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. This trade represents a 17.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the sale, the insider directly owned 44,655 shares of the company’s stock, valued at $4,221,683.70. This trade represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,187 shares of company stock valued at $3,027,315 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $111.79 on Wednesday. The business has a fifty day moving average price of $97.37 and a 200-day moving average price of $93.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The company has a market capitalization of $17.56 billion, a PE ratio of 53.24, a PEG ratio of 1.76 and a beta of 0.93. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $112.76.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The company had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same quarter in the previous year, the business posted $0.79 EPS. Performance Food Group’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.