B. Metzler seel. Sohn & Co. AG Purchases New Holdings in Performance Food Group Company $PFGC

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 28,787 Performance Food Group shares worth approximately $3.2 million in the second quarter. Institutional investors collectively own 96.87% of the company.
• Performance Food Group insiders sold 28,583 shares worth about $2.9 million over the past quarter, including sales by Erika T. Davis and Chasity D. Grosh.
• The company narrowly missed quarterly earnings expectations, reporting $1.59 in EPS versus $1.60 expected, while revenue rose 6.7% year over year to $18.03 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $126.90.

B. Metzler seel. Sohn & Co. AG acquired a new position in Performance Food Group Company (NYSE:PFGC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 28,787 shares of the food distribution company's stock, valued at approximately $3,218,000.

Other large investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Performance Food Group by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company's stock valued at $3,372,000 after acquiring an additional 121 shares in the last quarter. HB Wealth Management LLC boosted its stake in Performance Food Group by 3.8% during the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company's stock worth $285,000 after purchasing an additional 122 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of Performance Food Group by 7.4% during the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company's stock worth $184,000 after buying an additional 140 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Performance Food Group by 16.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company's stock valued at $91,000 after buying an additional 143 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its position in shares of Performance Food Group by 6.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company's stock valued at $243,000 after buying an additional 173 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Performance Food Group

In related news, insider Erika T. Davis sold 1,529 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $104.64, for a total transaction of $159,994.56. Following the completion of the sale, the insider directly owned 52,963 shares of the company's stock, valued at approximately $5,542,048.32. This trade represents a 2.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chasity D. Grosh sold 838 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $104.64, for a total value of $87,688.32. Following the sale, the insider directly owned 8,142 shares of the company's stock, valued at $851,978.88. The trade was a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,583 shares of company stock worth $2,913,872 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Performance Food Group Price Performance

Shares of PFGC stock opened at $104.99 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The firm's 50-day moving average is $110.09 and its two-hundred day moving average is $98.24. 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 $16.54 billion, a PE ratio of 45.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $18.03 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. Analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PFGC shares. BMO Capital Markets restated an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Barclays increased their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. UBS Group decreased 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 research note on Friday, August 14th. Wells Fargo & Company boosted their target price on Performance Food Group from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Guggenheim upped their price target on Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Performance Food Group currently has a consensus rating of "Moderate Buy" and an average target price of $126.90.

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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