Eminence Capital LP Sells 470,402 Shares of Performance Food Group Company $PFGC

Key Points

• Eminence Capital LP reduced its stake in Performance Food Group Company (PFGC) by 18.2%, selling 470,402 shares, bringing its ownership to approximately 2.8% of the company.
• Performance Food Group reported earnings of $1.55 per share for the most recent quarter, surpassing estimates and reflecting an 11.2% year-over-year revenue growth.
• Analysts have raised their price targets for PFGC, with Wells Fargo and Barclays setting targets as high as $120.00, contributing to a consensus price target of $109.67.

Eminence Capital LP cut its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 18.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,108,966 shares of the food distribution company's stock after selling 470,402 shares during the quarter. Performance Food Group accounts for about 2.8% of Eminence Capital LP's investment portfolio, making the stock its 15th largest holding. Eminence Capital LP owned 1.35% of Performance Food Group worth $165,828,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Performance Food Group by 746.2% during the first quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company's stock valued at $879,000 after buying an additional 9,857 shares during the period. Dimensional Fund Advisors LP grew its position in Performance Food Group by 6.6% during 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 buying an additional 137,998 shares during the period. Charles Schwab Investment Management Inc. grew its position in Performance Food Group by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,282,070 shares of the food distribution company's stock valued at $100,809,000 after buying an additional 60,745 shares during the period. Boston Partners grew its position in Performance Food Group by 39.0% during 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 during the period. Finally, Nuveen LLC bought a new stake in Performance Food Group during the first quarter valued at approximately $69,456,000. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Price Performance

Shares of PFGC stock traded down $0.34 during mid-day trading on Monday, hitting $105.09. The company had a trading volume of 869,150 shares, compared to its average volume of 1,351,684. The company has a market capitalization of $16.45 billion, a P/E ratio of 48.43, a P/E/G ratio of 1.19 and a beta of 1.10. The stock's 50 day moving average price is $97.97 and its 200-day moving average price is $87.42. 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 released its quarterly earnings results on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $16.85 billion. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. Performance Food Group's revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 earnings per share. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Equities research analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In related news, insider Hugh Patrick Hatcher sold 5,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $105.07, for a total transaction of $525,350.00. Following the sale, the insider owned 47,655 shares of the company's stock, valued at $5,007,110.85. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider A Brent King sold 6,334 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $105.10, for a total transaction of $665,703.40. Following the sale, the insider directly owned 62,852 shares in the company, valued at approximately $6,605,745.20. The trade was a 9.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,968 shares of company stock worth $5,944,596 in the last ninety days. Company insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

PFGC has been the subject of several recent research reports. Barclays boosted their target price on shares of Performance Food Group from $112.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. UBS Group lifted their price target on shares of Performance Food Group from $110.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target on shares of Performance Food Group in a report on Tuesday, August 26th. Finally, Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the company an "overweight" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $109.67.

Performance Food Group Company Profile

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.