31,313 Shares in Performance Food Group Company $PFGC Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC initiated a 31,313-share stake in Performance Food Group valued at approximately $3.5 million during the second quarter. Institutional investors collectively own 96.87% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $126.90.
• Performance Food Group reported quarterly revenue of $18.03 billion, up 6.7% year over year, but narrowly missed earnings expectations with EPS of $1.59 versus the $1.60 consensus estimate. Insiders have sold 54,750 shares worth about $5.7 million over the past 90 days.

Empowered Funds LLC bought a new stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 31,313 shares of the food distribution company's stock, valued at approximately $3,500,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC bought a new position in shares of Performance Food Group during the 1st quarter valued at about $28,000. Asset Planning Inc purchased a new position in shares of Performance Food Group during the first quarter valued at about $35,000. Lloyd Advisory Services LLC. bought a new stake in shares of Performance Food Group in the fourth quarter worth about $43,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Performance Food Group in the second quarter worth about $51,000. Finally, Clearstead Advisors LLC lifted its position in shares of Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock worth $53,000 after buying an additional 335 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFGC has been the subject of a number of research reports. Sanford C. Bernstein reissued an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Morgan Stanley lifted their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Barclays upped their price objective on Performance Food Group from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Weiss Ratings upgraded Performance Food Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 27th. Finally, TD Cowen cut their target price on shares of Performance Food Group from $128.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.90.

Performance Food Group Stock Down 0.0%

Shares of NYSE:PFGC opened at $99.15 on Wednesday. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 1.27 and a beta of 0.88. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $117.47. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $109.86 and a 200 day moving average price of $98.76.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The company had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The company's revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Insider Transactions at Performance Food Group

In other news, insider A Brent King sold 8,023 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total transaction of $836,076.83. Following the transaction, the insider owned 47,800 shares of the company's stock, valued at approximately $4,981,238. The trade was a 14.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erika T. Davis sold 8,008 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total value of $834,513.68. Following the sale, the insider owned 43,986 shares in the company, valued at $4,583,781.06. The trade was a 15.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 54,750 shares of company stock worth $5,722,370. 4.50% of the stock is currently owned by company insiders.

Performance Food Group Company Profile

Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.