Braun Stacey Associates Inc. Sells 26,660 Shares of Performance Food Group Company $PFGC

Key Points

• Braun Stacey Associates cut its stake in Performance Food Group by 20.7% in the first quarter, selling 26,660 shares and ending with 102,429 shares valued at about $8.77 million.
• Performance Food Group beat quarterly earnings and revenue estimates, reporting EPS of $0.80 versus $0.77 expected and revenue of $16.29 billion, up 6.4% year over year.
• Analyst sentiment remains positive overall, with several firms raising price targets; the stock has a Moderate Buy consensus and an average target price of $119.

Braun Stacey Associates Inc. reduced its holdings in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 20.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,429 shares of the food distribution company's stock after selling 26,660 shares during the quarter. Braun Stacey Associates Inc. owned 0.07% of Performance Food Group worth $8,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Torren Management LLC bought a new position in Performance Food Group in the 4th quarter valued at about $41,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group during the 4th quarter valued at about $43,000. Clearstead Advisors LLC increased its holdings in Performance Food Group by 132.9% during the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock worth $53,000 after purchasing an additional 335 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company's stock worth $58,000 after purchasing an additional 537 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Performance Food Group in the fourth quarter worth approximately $62,000. 96.87% of the stock is owned by institutional investors.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $110.45 on Friday. The business's fifty day simple moving average is $96.53 and its 200 day simple moving average is $93.06. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $110.66. The firm has a market capitalization of $17.35 billion, a P/E ratio of 52.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data 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. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The business's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on PFGC shares. Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Performance Food Group in a research report on Wednesday. Zacks Research upgraded Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Citigroup raised their price objective on Performance Food Group from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $119.00.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 1,750 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $183,750.00. Following the transaction, the insider directly owned 43,041 shares in the company, valued at $4,519,305. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director directly owned 11,935 shares of the company's stock, valued at $1,133,825. This represents a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,592 shares of company stock worth $2,741,865 in the last ninety days. Corporate insiders own 4.50% of the company's stock.

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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