Rhumbline Advisers Lowers Stock Position in Performance Food Group (NYSE:PFGC)

Rhumbline Advisers decreased its holdings in Performance Food Group (NYSE:PFGC) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 431,535 shares of the food distribution company’s stock after selling 13,647 shares during the quarter. Rhumbline Advisers owned about 0.28% of Performance Food Group worth $28,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Performance Food Group in the 1st quarter valued at approximately $29,000. Innealta Capital LLC purchased a new position in Performance Food Group during the 2nd quarter worth $30,000. Mather Group LLC. acquired a new stake in shares of Performance Food Group in the 1st quarter worth $44,000. GAMMA Investing LLC lifted its stake in shares of Performance Food Group by 65.2% in the 2nd quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after acquiring an additional 349 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of Performance Food Group in the fourth quarter valued at about $87,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 2.1 %

Performance Food Group stock opened at $71.56 on Friday. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The stock’s fifty day moving average is $68.30 and its two-hundred day moving average is $70.46.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Performance Food Group will post 4.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PFGC has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. BMO Capital Markets increased their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Jefferies Financial Group increased their price objective on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.38.

Insider Buying and Selling at Performance Food Group

In other news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by insiders.

Performance Food Group Company 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.