Bank of New York Mellon Corp Grows Stock Holdings in Performance Food Group (NYSE:PFGC)

Bank of New York Mellon Corp raised its position in shares of Performance Food Group (NYSE:PFGC) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,258,714 shares of the food distribution company’s stock after buying an additional 15,981 shares during the period. Bank of New York Mellon Corp’s holdings in Performance Food Group were worth $83,214,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its position in shares of Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock valued at $35,000 after buying an additional 143 shares during the last quarter. Hanlon Investment Management Inc. lifted its position in shares of Performance Food Group by 1.4% during the first quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock valued at $1,046,000 after buying an additional 194 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Performance Food Group by 1.9% during the first quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after buying an additional 200 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Performance Food Group by 5.8% in the 1st quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock valued at $317,000 after purchasing an additional 233 shares during the last quarter. Finally, GAMMA Investing LLC raised its position 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 valued at $58,000 after purchasing an additional 349 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Trading Down 0.2 %

PFGC stock opened at $74.71 on Thursday. 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 business’s 50-day moving average is $67.48 and its 200 day moving average is $70.42. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 0.92 and a beta of 1.42. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its 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 net margin of 0.75% and a return on equity of 17.03%. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Barclays increased their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the company 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 report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Performance Food Group from $93.00 to $94.00 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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 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 transaction, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $749,644.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider George L. Holm sold 63,500 shares of the firm’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 transaction, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The disclosure for this sale can be found here. Insiders sold a total of 92,500 shares of company stock worth $6,829,595 in the last three months. 2.60% of the stock is owned by corporate insiders.

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.