Palisade Capital Management LP Sells 7,608 Shares of Performance Food Group Company (NYSE:PFGC)

Palisade Capital Management LP cut its holdings in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 480,945 shares of the food distribution company's stock after selling 7,608 shares during the quarter. Performance Food Group accounts for approximately 1.1% of Palisade Capital Management LP's holdings, making the stock its 16th biggest holding. Palisade Capital Management LP owned approximately 0.31% of Performance Food Group worth $37,817,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. KBC Group NV boosted its position in Performance Food Group by 8.8% during the first quarter. KBC Group NV now owns 6,544 shares of the food distribution company's stock valued at $515,000 after buying an additional 527 shares during the period. Highland Capital Management LLC grew its position in Performance Food Group by 25.1% during the 1st quarter. Highland Capital Management LLC now owns 3,647 shares of the food distribution company's stock worth $287,000 after acquiring an additional 732 shares during the last quarter. Golden State Wealth Management LLC grew its position in Performance Food Group by 353.5% during the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock worth $71,000 after acquiring an additional 707 shares during the last quarter. Steph & Co. increased its stake in Performance Food Group by 6.7% in the 1st quarter. Steph & Co. now owns 4,451 shares of the food distribution company's stock worth $350,000 after purchasing an additional 280 shares during the period. Finally, Moran Wealth Management LLC grew its holdings in shares of Performance Food Group by 1.1% in the first quarter. Moran Wealth Management LLC now owns 94,656 shares of the food distribution company's stock worth $7,443,000 after purchasing an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley raised their target price on Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Citigroup began coverage on Performance Food Group in a report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. UBS Group increased their price objective on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Truist Financial cut their price objective on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.08.

Insider Buying and Selling

In related news, insider Craig Howard Hoskins sold 14,285 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total value of $1,195,654.50. Following the transaction, the insider owned 138,008 shares in the company, valued at $11,551,269.60. The trade was a 9.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.00, for a total transaction of $216,360.00. Following the sale, the insider owned 51,350 shares of the company's stock, valued at approximately $4,621,500. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,972 shares of company stock valued at $5,964,073. Insiders own 2.80% of the company's stock.

Performance Food Group Stock Up 0.8%

Performance Food Group stock traded up $0.68 on Friday, hitting $88.87. 353,739 shares of the stock traded hands, compared to its average volume of 1,092,297. The business's fifty day simple moving average is $86.17 and its 200 day simple moving average is $83.56. The firm has a market cap of $13.87 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. Performance Food Group Company has a 1 year low of $61.60 and a 1 year high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The business had revenue of $15.31 billion for the quarter, compared to analysts' expectations of $15.41 billion. Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The company's revenue was up 10.5% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share. As a group, sell-side analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current year.

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.