Performance Food Group (NYSE:PFGC) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. reduced its holdings in shares of Performance Food Group (NYSE:PFGC) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,125 shares of the food distribution company’s stock after selling 21,993 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Performance Food Group were worth $8,338,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PFGC. Point72 Asset Management L.P. lifted its stake in Performance Food Group by 414.1% during the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after purchasing an additional 1,770,683 shares during the last quarter. Primecap Management Co. CA raised its holdings in Performance Food Group by 223.4% during the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after buying an additional 469,500 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after buying an additional 397,114 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Performance Food Group in the 4th quarter valued at $11,410,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 0.2 %

Performance Food Group stock opened at $78.19 on Wednesday. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 29.18, a PEG 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. The stock has a 50 day moving average of $72.10 and a two-hundred day moving average of $70.34. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $79.59.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. As a group, research analysts expect that Performance Food Group will post 4.87 earnings per share for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PFGC. BMO Capital Markets boosted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Morgan Stanley cut their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Barclays upped their target price on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group boosted their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

About Performance Food Group

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.