Performance Food Group (NYSE:PFGC) Stock Holdings Increased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in Performance Food Group (NYSE:PFGC) by 115.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,025 shares of the food distribution company’s stock after purchasing an additional 18,229 shares during the quarter. Hsbc Holdings PLC’s holdings in Performance Food Group were worth $2,253,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Rise Advisors LLC bought a new position in Performance Food Group in the 1st quarter valued at about $29,000. Innealta Capital LLC bought a new position in shares of Performance Food Group in the second quarter valued at approximately $30,000. Mather Group LLC. bought a new stake in Performance Food Group during the first quarter worth approximately $44,000. GAMMA Investing LLC lifted its position in Performance Food Group by 65.2% in the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 349 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Performance Food Group during the 2nd quarter valued at $105,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $78.68 on Friday. The company’s fifty day moving average is $71.13 and its two-hundred day moving average is $70.30. The company has a market cap of $12.24 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.99. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts expect that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $74.64, for a total value 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. Insiders sold a total of 100,500 shares of company stock worth $7,426,075 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PFGC. Barclays boosted their price objective on Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Jefferies Financial Group increased their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley cut their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.