Performance Food Group Company (NYSE:PFGC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,285,884 shares of the food distribution company's stock after selling 53,572 shares during the period. Principal Financial Group Inc. owned about 0.82% of Performance Food Group worth $101,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in shares of Performance Food Group during the fourth quarter worth about $26,000. CENTRAL TRUST Co grew its stake in Performance Food Group by 476.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after purchasing an additional 405 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Performance Food Group by 203.7% during the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock worth $40,000 after purchasing an additional 334 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Performance Food Group by 353.5% in the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock valued at $71,000 after purchasing an additional 707 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Performance Food Group by 34,133.3% during the 1st quarter. Versant Capital Management Inc now owns 1,027 shares of the food distribution company's stock valued at $81,000 after buying an additional 1,024 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Wall Street Analyst Weigh In

PFGC has been the topic of several recent analyst reports. Barclays upped their price target on shares of Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley upped their target price on shares of Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. UBS Group lifted their price target on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Wall Street Zen upgraded Performance Food Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 28th. Finally, Truist Financial decreased their target price on Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $100.08.

Performance Food Group Stock Performance

PFGC stock opened at $88.87 on Friday. The stock's fifty day moving average is $86.17 and its two-hundred day moving average is $83.56. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.25 and a beta of 1.15. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61. 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 data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Erika T. Davis sold 8,200 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the transaction, the insider directly owned 46,722 shares of the company's stock, valued at approximately $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the sale, the insider owned 60,952 shares in the company, valued at approximately $5,486,899.04. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,972 shares of company stock valued at $5,964,073. Corporate insiders own 2.80% of the company's stock.

About Performance Food Group

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.

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