Legal & General Group Plc Has $23.16 Million Holdings in Performance Food Group Company $PFGC

Key Points

• Legal & General Group Plc reduced its stake in Performance Food Group by 20.8% in the fourth quarter, but still held 257,575 shares valued at about $23.16 million.
• Performance Food Group reported better-than-expected quarterly results, posting EPS of $0.80 versus the $0.77 estimate and revenue of $16.29 billion, up 6.4% year over year.
• Analysts remain largely constructive on the stock, with 10 Buy ratings and 2 Hold ratings, and a consensus price target of $119, while insiders have also been selling shares recently.

Legal & General Group Plc cut its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 257,575 shares of the food distribution company's stock after selling 67,618 shares during the period. Legal & General Group Plc owned approximately 0.16% of Performance Food Group worth $23,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PFGC. Torren Management LLC acquired a new position in shares of Performance Food Group during the fourth quarter worth about $41,000. Lloyd Advisory Services LLC. bought a new stake in Performance Food Group in the 4th quarter valued at approximately $43,000. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 537 shares in the last quarter. AlphaQuest LLC boosted its position in Performance Food Group by 76.0% during the 3rd quarter. AlphaQuest LLC now owns 667 shares of the food distribution company's stock worth $69,000 after acquiring an additional 288 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Performance Food Group during the 4th quarter worth approximately $62,000. Institutional investors own 96.87% of the company's stock.

Performance Food Group Stock Up 0.2%

Performance Food Group stock opened at $98.34 on Monday. The company's 50-day moving average price is $89.97 and its two-hundred day moving average price is $92.07. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The stock has a market cap of $15.45 billion, a P/E ratio of 46.83, a P/E/G ratio of 1.54 and a beta of 0.93. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $109.05.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm 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%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. As a group, analysts expect that Performance Food Group Company will post 4.57 EPS for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the sale, the director owned 11,935 shares of the company's stock, valued at $1,133,825. This trade represents a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,250 shares of company stock worth $687,370 over the last three months. Insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PFGC shares. Morgan Stanley reduced their target price on shares of Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, February 5th. UBS Group reduced their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Citigroup upped their target price on Performance Food Group from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Zacks Research raised Performance Food Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $119.00.

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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