Deutsche Bank AG Acquires Shares of 28,959 Performance Food Group Company $PFGC

Key Points

• Deutsche Bank acquired 28,959 shares of Performance Food Group worth approximately $3.24 million during the second quarter. Institutional investors and hedge funds collectively own about 96.9% of PFGC.
• Performance Food Group reported quarterly revenue of $18.03 billion, up roughly 6.7% year over year, while EPS rose to $1.59 from $0.84. However, results narrowly missed analysts’ revenue and EPS estimates, and product-cost inflation reached approximately 4.7%.
• Analyst sentiment remains positive, with 11 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $126.90. Shares recently traded near $102.50, below the 50-day moving average, while several insiders sold stock during the quarter.

Deutsche Bank AG acquired a new position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 28,959 shares of the food distribution company's stock, valued at approximately $3,237,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Performance Food Group during the fourth quarter worth approximately $208,170,000. Wellington Management Group LLP boosted its stake in Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock valued at $646,447,000 after acquiring an additional 1,964,799 shares during the last quarter. Invesco Ltd. grew its holdings in Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company's stock worth $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. Eminence Capital LP increased its position in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company's stock worth $238,050,000 after purchasing an additional 998,249 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at about $105,756,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Performance Food Group news, insider A Brent King sold 1,320 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the transaction, the insider directly owned 44,216 shares of the company's stock, valued at $4,655,502.64. The trade was a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erika T. Davis sold 1,320 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the sale, the insider owned 40,402 shares in the company, valued at $4,253,926.58. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 60,391 shares of company stock valued at $6,267,460. 4.50% of the stock is owned by company insiders.

Performance Food Group News Summary

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales increased 6.4% year over year to $18.03 billion, with total case volume up 3.5% and organic case volume up 1.8%. Net income rose 23.4% to $162.3 million, indicating that growth was supported by demand as well as pricing. Performance Food sales and earnings article
• Positive Sentiment: Wall Street’s outlook remains constructive, with 11 analysts rating PFGC a Buy and two rating it a Hold. The consensus rating is “Moderate Buy,” with an average price target of $126.90, supported by recent target increases from several firms.
• Neutral Sentiment: Institutional investors own approximately 96.9% of the stock, and several major funds recently increased or initiated positions. This may provide longer-term support, although the reported holdings changes do not necessarily indicate a near-term trading catalyst.
• Neutral Sentiment: A board member recently resigned, but no reason was disclosed. Without additional details, the immediate effect on PFGC’s outlook is unclear. Performance Food Group board resignation
• Negative Sentiment: Several insiders sold shares between August 20 and 25. Notable transactions included Donald S. Bulmer’s sale of 10,535 shares for approximately $1.12 million, alongside additional sales by A. Brent King, Erika T. Davis and Chasity Grosh. The concentrated selling may weigh on sentiment, even though insider sales can reflect personal or compensation-related decisions. Performance Food Group insider sales
• Negative Sentiment: The latest quarter narrowly missed consensus expectations for both EPS and revenue. Product-cost inflation of approximately 4.7% also raises questions about how much sales growth reflects pricing rather than underlying demand. With PFGC trading below its 50-day moving average and at a relatively high earnings multiple, investors may be more sensitive to modest misses.

Performance Food Group Trading Down 2.3%

NYSE:PFGC opened at $102.50 on Thursday. The firm has a market capitalization of $16.15 billion, a P/E ratio of 44.76, a P/E/G ratio of 1.35 and a beta of 0.91. The business has a 50 day simple moving average of $110.12 and a 200 day simple moving average of $98.52. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts predict that Performance Food Group Company will post 5.58 EPS for the current year.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of research reports. Guggenheim lifted their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. TD Cowen reduced their price objective on Performance Food Group from $128.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Weiss Ratings raised shares of Performance Food Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $133.00 target price on shares of Performance Food Group in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.90.

Performance Food Group 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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