First Trust Advisors LP Sells 46,281 Shares of Performance Food Group Company $PFGC

First Trust Advisors LP cut its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 20.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,517 shares of the food distribution company's stock after selling 46,281 shares during the quarter. First Trust Advisors LP owned 0.12% of Performance Food Group worth $15,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFGC. Cedar Mountain Advisors LLC bought a new position in Performance Food Group in the first quarter valued at approximately $28,000. Asset Planning Inc acquired a new position in Performance Food Group during the first quarter valued at approximately $35,000. Torren Management LLC bought a new stake in Performance Food Group during the fourth quarter worth $41,000. Lloyd Advisory Services LLC. bought a new stake in Performance Food Group during the fourth quarter worth $43,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock valued at $53,000 after purchasing an additional 335 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PFGC shares. Wells Fargo & Company boosted their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. TD Cowen started coverage on shares of Performance Food Group in a research note on Tuesday, July 7th. They issued a "buy" rating and a $128.00 price objective for the company. Guggenheim raised their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $123.00 price target on shares of Performance Food Group in a research note on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $123.82.

Performance Food Group Stock Performance

NYSE:PFGC opened at $114.67 on Friday. The company has a market capitalization of $18.01 billion, a PE ratio of 54.61, a P/E/G ratio of 1.46 and a beta of 0.91. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The company has a 50 day simple moving average of $106.30 and a two-hundred day simple moving average of $96.68.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. Performance Food Group's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. Research analysts anticipate that Performance Food Group Company will post 4.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kimberly Grant sold 2,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the transaction, the director directly owned 11,935 shares of the company's stock, valued at $1,133,825. The trade was a 17.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erika T. Davis sold 2,595 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider owned 40,446 shares in the company, valued at approximately $4,449,060. The trade was a 6.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,187 shares of company stock valued at $3,027,315. Insiders own 4.50% of the company's stock.

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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