First Eagle Investment Management LLC Boosts Stock Position in Performance Food Group (NYSE:PFGC)

First Eagle Investment Management LLC grew its stake in shares of Performance Food Group (NYSE:PFGC) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,921 shares of the food distribution company’s stock after buying an additional 1,950 shares during the period. First Eagle Investment Management LLC’s holdings in Performance Food Group were worth $854,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Capital World Investors lifted its position in shares of Performance Food Group by 0.5% during the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock valued at $1,606,782,000 after buying an additional 100,244 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 worth $447,645,000 after purchasing an additional 397,114 shares in the last quarter. Jennison Associates LLC boosted its stake in Performance Food Group by 2.5% in the 1st quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock worth $175,383,000 after purchasing an additional 56,242 shares during the period. Point72 Asset Management L.P. boosted its stake in Performance Food Group by 414.1% in the 4th 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in Performance Food Group by 27.9% in 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 purchasing an additional 469,500 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Down 0.0 %

Shares of PFGC opened at $77.01 on Friday. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The business’s 50 day simple moving average is $70.38 and its 200-day simple moving average is $70.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating 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 company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter 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. As a group, equities analysts expect that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In related news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction on 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 in the company, valued at approximately $11,185,774.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Performance Food Group news, 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 sale, the director now owns 10,184 shares in the company, valued at $749,644.24. The transaction 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 the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the sale, the insider now owns 149,863 shares in the company, valued at approximately $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. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” 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. Barclays upped their price target 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. Truist Financial upped their price target on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group upped their price objective on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.38.

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.