Comerica Bank Sells 2,828 Shares of Performance Food Group Company $PFGC

Key Points

• Comerica Bank reduced its position in Performance Food Group Company (PFGC) by 6.7%, owning 39,628 shares worth approximately $3.12 million after selling 2,828 shares.
• A majority (96.87%) of Performance Food Group's stock is held by hedge funds and institutional investors, with several firms significantly increasing their stakes in the company recently.
• Performance Food Group reported a net margin of 0.54% and increased its quarterly revenue by 11.2%, exceeding analyst estimates with earnings per share of $1.55.

Comerica Bank reduced its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,628 shares of the food distribution company's stock after selling 2,828 shares during the quarter. Comerica Bank's holdings in Performance Food Group were worth $3,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of Performance Food Group by 746.2% in the first quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company's stock worth $879,000 after acquiring an additional 9,857 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Performance Food Group by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,221,430 shares of the food distribution company's stock valued at $174,647,000 after acquiring an additional 137,998 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Performance Food Group by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,282,070 shares of the food distribution company's stock worth $100,809,000 after acquiring an additional 60,745 shares during the last quarter. Boston Partners raised its stake in Performance Food Group by 39.0% in the first quarter. Boston Partners now owns 108,933 shares of the food distribution company's stock valued at $8,565,000 after buying an additional 30,578 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Performance Food Group in the first quarter valued at $69,456,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Insiders Place Their Bets

In related news, insider A Brent King sold 9,136 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $100.51, for a total transaction of $918,259.36. Following the completion of the transaction, the insider owned 66,540 shares of the company's stock, valued at approximately $6,687,935.40. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hugh Patrick Hatcher sold 5,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $105.07, for a total value of $525,350.00. Following the transaction, the insider directly owned 47,655 shares of the company's stock, valued at $5,007,110.85. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,968 shares of company stock worth $5,944,596 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PFGC. UBS Group increased their price objective on Performance Food Group from $110.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Barclays boosted their price target on shares of Performance Food Group from $112.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. 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. Morgan Stanley lifted their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, Piper Sandler upgraded Performance Food Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $90.00 to $114.00 in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.67.

Performance Food Group Price Performance

Shares of PFGC traded down $0.62 during midday trading on Friday, reaching $104.63. The stock had a trading volume of 173,605 shares, compared to its average volume of 1,348,707. The firm's 50 day moving average price is $97.61 and its 200-day moving average price is $87.27. The company has a market capitalization of $16.38 billion, a P/E ratio of 48.28, a P/E/G ratio of 1.17 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.58 and a quick ratio of 0.72. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $105.80.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. Performance Food Group had a return on equity of 16.23% and a net margin of 0.54%.The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $16.85 billion. During the same period in the previous year, the firm earned $1.45 earnings per share. Performance Food Group's revenue for the quarter was up 11.2% compared to the same quarter last year. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

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.