WCM Investment Management LLC Trims Stock Holdings in Performance Food Group Company $PFGC

WCM Investment Management LLC lowered its holdings in Performance Food Group Company (NYSE:PFGC) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,684 shares of the food distribution company’s stock after selling 6,306 shares during the period. WCM Investment Management LLC owned approximately 0.12% of Performance Food Group worth $15,900,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Cedar Mountain Advisors LLC bought a new position in Performance Food Group in the 1st quarter worth approximately $28,000. Asset Planning Inc bought a new stake in Performance Food Group during the 1st quarter valued at $35,000. Torren Management LLC purchased a new stake in shares of Performance Food Group during the fourth quarter worth $41,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Performance Food Group during the fourth quarter worth $43,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock worth $53,000 after acquiring an additional 335 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Performance Food Group

In other news, insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group stock in a transaction 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 completion of the sale, the insider directly owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,187 shares of company stock valued at $3,027,315. Company insiders own 4.50% of the company’s stock.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $111.82 on Monday. The firm has a market capitalization of $17.57 billion, a P/E ratio of 53.25, a P/E/G ratio of 1.40 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The stock’s 50-day simple moving average is $103.18 and its two-hundred day simple moving average is $95.17. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $116.42.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday, June 24th. Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Guggenheim increased their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.09.

Performance Food Group 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.