Capital World Investors Purchases 185,624 Shares of Performance Food Group Company $PFGC

Key Points

• Capital World Investors boosted its stake in Performance Food Group (PFGC) by 185,624 shares to 22,446,853 shares, representing about 14.31% ownership valued at roughly $2.34 billion at quarter-end.
• Performance Food Group reported quarterly EPS of $0.98, missing estimates of $1.07 and posting $16.44 billion in revenue (slightly below expectations); analysts carry a consensus Moderate Buy rating with an average price target of $116.44.
• The stock has a market cap of about $13.8 billion and a high valuation (P/E ~39.98), with institutional investors holding roughly 96.87% of the shares.

Capital World Investors boosted its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,446,853 shares of the food distribution company's stock after buying an additional 185,624 shares during the quarter. Capital World Investors owned approximately 14.31% of Performance Food Group worth $2,335,371,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PFGC. Bank of Montreal Can grew its position in shares of Performance Food Group by 1,009.0% in the third quarter. Bank of Montreal Can now owns 289,736 shares of the food distribution company's stock valued at $30,144,000 after purchasing an additional 263,609 shares during the last quarter. Swiss National Bank increased its stake in shares of Performance Food Group by 1.3% in the third quarter. Swiss National Bank now owns 302,560 shares of the food distribution company's stock worth $31,478,000 after purchasing an additional 4,000 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Performance Food Group by 30.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 68,106 shares of the food distribution company's stock worth $7,086,000 after purchasing an additional 15,870 shares during the last quarter. Inceptionr LLC lifted its position in shares of Performance Food Group by 100.5% during the 3rd quarter. Inceptionr LLC now owns 14,976 shares of the food distribution company's stock worth $1,558,000 after purchasing an additional 7,505 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Performance Food Group during the 3rd quarter worth about $1,561,000. Institutional investors own 96.87% of the company's stock.

Performance Food Group Stock Up 0.6%

Shares of PFGC stock opened at $87.96 on Tuesday. Performance Food Group Company has a one year low of $68.39 and a one year high of $109.05. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The stock has a fifty day moving average price of $93.59 and a 200 day moving average price of $97.06. The stock has a market cap of $13.79 billion, a P/E ratio of 39.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on PFGC shares. Piper Sandler lowered their target price on Performance Food Group from $116.00 to $111.00 and set an "overweight" rating on the stock in a report on Friday, December 12th. Citigroup dropped their target price on shares of Performance Food Group from $127.00 to $126.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Sanford C. Bernstein restated an "outperform" rating on shares of Performance Food Group in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Performance Food Group in a research report on Monday, December 29th. Finally, Guggenheim reiterated a "buy" rating on shares of Performance Food Group in a research note on Thursday, December 18th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and a consensus price target of $116.44.

Insider Buying and Selling

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the transaction, the insider owned 6,601 shares in the company, valued at $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

About Performance Food Group

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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