Park Avenue Securities LLC Cuts Stock Holdings in Performance Food Group (NYSE:PFGC)

Park Avenue Securities LLC trimmed its stake in shares of Performance Food Group (NYSE:PFGC) by 18.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,774 shares of the food distribution company’s stock after selling 2,027 shares during the period. Park Avenue Securities LLC’s holdings in Performance Food Group were worth $688,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Performance Food Group in the 2nd quarter worth about $159,000. Sanctuary Advisors LLC bought a new stake in shares of Performance Food Group in the 2nd quarter worth about $243,000. New Century Financial Group LLC bought a new stake in shares of Performance Food Group in the 2nd quarter worth about $239,000. Cetera Investment Advisers increased its holdings in shares of Performance Food Group by 0.4% in the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after buying an additional 186 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Performance Food Group by 27.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimberly Grant sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the sale, the director now directly owns 10,184 shares of the company’s stock, valued at $749,644.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,500 shares of company stock valued at $7,426,075. Company insiders own 2.60% of the company’s stock.

Performance Food Group Price Performance

Performance Food Group stock opened at $79.96 on Friday. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45. 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 has a 1 year low of $52.92 and a 1 year high of $81.05. The firm has a 50-day moving average of $73.56 and a two-hundred day moving average of $70.48.

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

Analyst Ratings Changes

PFGC has been the topic of a number of research reports. Barclays boosted their target price on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Morgan Stanley reduced their target price on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group upped their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.63.

Performance Food Group 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.