Arrowstreet Capital Limited Partnership Lowers Position in Performance Food Group Company $PFGC

Arrowstreet Capital Limited Partnership decreased its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 55.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 402,058 shares of the food distribution company's stock after selling 498,433 shares during the period. Arrowstreet Capital Limited Partnership owned 0.26% of Performance Food Group worth $34,440,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Inceptionr LLC raised its position in shares of Performance Food Group by 51.4% in the 1st quarter. Inceptionr LLC now owns 15,117 shares of the food distribution company's stock worth $1,295,000 after buying an additional 5,130 shares during the period. RMG Wealth Management LLC purchased a new stake in Performance Food Group during the first quarter valued at about $192,000. Sei Investments Co. increased its stake in Performance Food Group by 11.3% during the first quarter. Sei Investments Co. now owns 272,089 shares of the food distribution company's stock worth $23,307,000 after acquiring an additional 27,585 shares during the last quarter. State of Wyoming increased its stake in Performance Food Group by 8.0% during the first quarter. State of Wyoming now owns 13,305 shares of the food distribution company's stock worth $1,140,000 after acquiring an additional 982 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Performance Food Group by 5.3% during the first quarter. Cetera Investment Advisers now owns 14,619 shares of the food distribution company's stock worth $1,252,000 after acquiring an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $115.72 on Wednesday. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $116.71. The business has a 50 day moving average price of $105.47 and a two-hundred day moving average price of $96.32. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The firm has a market cap of $18.18 billion, a PE ratio of 55.10, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $16.29 billion for the quarter, compared to analyst estimates of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.Performance Food Group's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. Sell-side analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider A Brent King sold 6,111 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider owned 44,260 shares of the company's stock, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the transaction, the insider owned 44,655 shares of the company's stock, valued at $4,221,683.70. This trade represents a 6.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,187 shares of company stock valued at $3,027,315 in the last 90 days. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

PFGC has been the topic of several research analyst reports. Zacks Research raised Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. TD Cowen began coverage on shares of Performance Food Group in a report on Tuesday, July 7th. They issued a "buy" rating and a $128.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Morgan Stanley boosted their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Guggenheim raised their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.82.

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.

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