Dimensional Fund Advisors LP Grows Stock Holdings in Performance Food Group Company $PFGC

Key Points

• Dimensional Fund Advisors LP increased its stake in Performance Food Group by 32.7% in the first quarter, ending with 2.51 million shares worth about $215.4 million.
• Several other institutional investors also boosted positions, and 96.87% of the stock is owned by institutions and hedge funds, showing heavy professional ownership.
• Analysts remain constructive on PFGC: the company has an average rating of “Moderate Buy” with an average target price of $123.82, while recent quarterly results beat EPS and revenue estimates.

Dimensional Fund Advisors LP boosted its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 32.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,514,963 shares of the food distribution company's stock after acquiring an additional 619,572 shares during the period. Dimensional Fund Advisors LP owned 1.60% of Performance Food Group worth $215,418,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Performance Food Group by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company's stock worth $62,266,000 after purchasing an additional 184,066 shares during the last quarter. Empowered Funds LLC acquired a new position in Performance Food Group in the 1st quarter valued at $359,000. EverSource Wealth Advisors LLC increased its stake in Performance Food Group by 440.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company's stock valued at $58,000 after buying an additional 537 shares during the period. Marshall Wace LLP purchased a new position in Performance Food Group during the 2nd quarter worth $230,000. Finally, Qube Research & Technologies Ltd raised its position in Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company's stock worth $28,764,000 after buying an additional 273,997 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider A Brent King sold 6,111 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the sale, the insider directly owned 44,260 shares in the company, valued at approximately $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider directly owned 44,655 shares in the company, valued at $4,221,683.70. This trade represents a 6.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 30,187 shares of company stock worth $3,027,315. 4.50% of the stock is currently owned by insiders.

Performance Food Group Stock Down 1.0%

Shares of NYSE PFGC opened at $110.23 on Friday. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 52.49, a price-to-earnings-growth ratio of 1.40 and a beta of 0.91. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $116.42. The firm has a 50-day moving average price of $104.37 and a 200 day moving average price of $95.75. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results 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 net margin of 0.49% and a return on equity of 15.33%. The company had revenue of $16.29 billion during the quarter, compared to analysts' expectations of $16.17 billion. During the same period last year, the company posted $0.79 earnings per share. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PFGC shares. Wells Fargo & Company lifted their target price on shares of Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Citigroup raised their price objective on shares of Performance Food Group from $135.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday. Zacks Research raised Performance Food Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Morgan Stanley boosted their target price on Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.82.

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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