Alyeska Investment Group L.P. Sells 209,167 Shares of Performance Food Group Company $PFGC

Alyeska Investment Group L.P. lessened its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 39.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,953 shares of the food distribution company's stock after selling 209,167 shares during the quarter. Alyeska Investment Group L.P. owned about 0.20% of Performance Food Group worth $35,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PFGC. BlackRock Inc. bought a new position in Performance Food Group in the 2nd quarter valued at approximately $1,576,983,000. Goldman Sachs Group Inc. increased its holdings in shares of Performance Food Group by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company's stock worth $125,972,000 after purchasing an additional 121,202 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Performance Food Group by 7.3% in the fourth quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company's stock worth $18,645,000 after purchasing an additional 14,173 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Performance Food Group by 30.9% in the fourth quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company's stock worth $4,408,000 after purchasing an additional 11,569 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Performance Food Group during the fourth quarter valued at $81,020,000. Institutional investors own 96.87% of the company's stock.

Performance Food Group Stock Down 0.1%

Shares of PFGC opened at $100.78 on Monday. The business's 50 day moving average is $110.04 and its 200 day moving average is $98.63. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a market capitalization of $15.88 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.01). The company had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business's revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Research analysts expect that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Performance Food Group from $132.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $133.00 price target on shares of Performance Food Group in a report on Thursday, August 13th. Wells Fargo & Company raised their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Performance Food Group has an average rating of "Moderate Buy" and an average target price of $126.90.

Insider Activity

In related news, insider Chasity D. Grosh sold 643 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $67,142.06. Following the transaction, the insider directly owned 7,222 shares of the company's stock, valued at approximately $754,121.24. This trade represents a 8.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Erika T. Davis sold 1,320 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the sale, the insider directly owned 40,402 shares of the company's stock, valued at approximately $4,253,926.58. This represents a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,750 shares of company stock valued at $5,722,370 over the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group 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.

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