Earnest Partners LLC Has $49.53 Million Stake in Performance Food Group (NYSE:PFGC)

Earnest Partners LLC cut its stake in shares of Performance Food Group (NYSE:PFGC) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 749,225 shares of the food distribution company’s stock after selling 2,858 shares during the quarter. Earnest Partners LLC owned approximately 0.48% of Performance Food Group worth $49,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in shares of Performance Food Group by 4.3% in the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock worth $289,000 after acquiring an additional 179 shares during the period. Hanlon Investment Management Inc. lifted its position in shares of Performance Food Group by 1.4% in the 1st quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock worth $1,046,000 after purchasing an additional 194 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Performance Food Group by 1.9% in the 1st 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 last quarter. 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 worth $317,000 after buying an additional 233 shares during the period. Finally, GAMMA Investing LLC raised its stake in Performance Food Group by 65.2% during the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after buying an additional 349 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $78.68 on Friday. The firm has a market capitalization of $12.24 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.99. The firm has a fifty day simple moving average of $71.13 and a two-hundred day simple moving average of $70.30.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the firm posted $1.14 EPS. Performance Food Group’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Performance Food Group will post 4.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PFGC shares. Deutsche Bank Aktiengesellschaft increased their price target on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their price target on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Barclays raised their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial raised their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Buying and Selling at Performance Food Group

In other news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through this hyperlink. In other news, insider George L. Holm sold 63,500 shares of Performance Food Group 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 sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,500 shares of company stock worth $7,426,075. Insiders own 2.60% of the company’s stock.

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.