Bank of New York Mellon Corp Has $81.94 Million Stock Position in Performance Food Group Company (NYSE:PFGC)

Bank of New York Mellon Corp cut its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,042,083 shares of the food distribution company's stock after selling 26,588 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Performance Food Group worth $81,939,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in shares of Performance Food Group in the 4th quarter worth approximately $26,000. CENTRAL TRUST Co boosted its holdings in shares of Performance Food Group by 476.5% in the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock worth $39,000 after acquiring an additional 405 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Performance Food Group by 203.7% in the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock worth $40,000 after acquiring an additional 334 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Performance Food Group by 353.5% in the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock worth $71,000 after acquiring an additional 707 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Performance Food Group by 34,133.3% in the 1st quarter. Versant Capital Management Inc now owns 1,027 shares of the food distribution company's stock worth $81,000 after acquiring an additional 1,024 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

Shares of PFGC traded up $2.62 during mid-day trading on Monday, hitting $97.43. 5,748,059 shares of the company's stock were exchanged, compared to its average volume of 1,214,351. Performance Food Group Company has a 52 week low of $63.24 and a 52 week high of $98.18. The stock's 50-day simple moving average is $87.14 and its 200-day simple moving average is $83.73. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 1.33 and a beta of 1.15. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group Company will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Morgan Stanley upped their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday. Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the company an "overweight" rating in a report on Thursday, May 29th. Wall Street Zen lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Finally, Citigroup assumed coverage on shares of Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Insider Buying and Selling at Performance Food Group

In related news, insider Craig Howard Hoskins sold 19,113 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the sale, the insider owned 152,293 shares in the company, valued at approximately $13,333,252.15. This trade represents a 11.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erika T. Davis sold 8,200 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the sale, the insider owned 46,722 shares in the company, valued at $4,191,897.84. This represents a 14.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,972 shares of company stock valued at $5,964,073 over the last ninety days. Company insiders own 2.80% of the company's stock.

About Performance Food Group

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.