Martingale Asset Management L P Decreases Stake in Performance Food Group Company $PFGC

Key Points

• Martingale Asset Management L P significantly reduced its position in Performance Food Group Company by 72.6% during the first quarter, selling 44,783 shares and reducing its holdings to 16,872 shares valued at approximately $1.33 million.
• Other hedge funds, such as CENTRAL TRUST Co and Farther Finance Advisors LLC, increased their stakes in the company by 476.5% and 203.7% respectively, indicating mixed sentiment among institutional investors.
• Performance Food Group reported an earnings per share of $1.55 for the last quarter, surpassing analyst expectations and marking an 11.2% year-over-year increase in revenue to $16.94 billion.

Martingale Asset Management L P trimmed its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 72.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,872 shares of the food distribution company's stock after selling 44,783 shares during the quarter. Martingale Asset Management L P's holdings in Performance Food Group were worth $1,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFGC. Victory Capital Management Inc. lifted its position in shares of Performance Food Group by 59.3% in the first quarter. Victory Capital Management Inc. now owns 6,229,169 shares of the food distribution company's stock valued at $489,800,000 after buying an additional 2,318,763 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Performance Food Group by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 5,187,869 shares of the food distribution company's stock worth $407,922,000 after purchasing an additional 1,503,703 shares during the period. Wellington Management Group LLP increased its holdings in shares of Performance Food Group by 1.5% in the first quarter. Wellington Management Group LLP now owns 3,966,667 shares of the food distribution company's stock valued at $311,899,000 after purchasing an additional 57,032 shares during the last quarter. Eminence Capital LP increased its holdings in shares of Performance Food Group by 3.2% in the fourth quarter. Eminence Capital LP now owns 2,579,368 shares of the food distribution company's stock valued at $218,086,000 after purchasing an additional 79,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Performance Food Group by 6.6% in 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 purchasing an additional 137,998 shares during the period. Institutional investors own 96.87% of the company's stock.

Analyst Ratings Changes

PFGC has been the topic of several research reports. Morgan Stanley upped their price target on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Truist Financial increased their target price on shares of Performance Food Group from $101.00 to $118.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their price target on shares of Performance Food Group from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Finally, Citigroup started coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $107.67.

Performance Food Group Trading Down 0.4%

Shares of NYSE:PFGC traded down $0.38 during midday trading on Thursday, reaching $101.01. The company's stock had a trading volume of 508,608 shares, compared to its average volume of 1,352,229. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.14 and a beta of 1.20. The firm has a 50 day moving average price of $95.58 and a two-hundred day moving average price of $86.58. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.72 and a current ratio of 1.58. Performance Food Group Company has a fifty-two week low of $68.39 and a fifty-two week high of $103.50.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insider Activity at Performance Food Group

In related news, insider Erika T. Davis sold 4,316 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $100.52, for a total value of $433,844.32. Following the completion of the sale, the insider directly owned 55,373 shares of the company's stock, valued at $5,566,093.96. The trade was a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hugh Patrick Hatcher sold 2,000 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $95.00, for a total value of $190,000.00. Following the completion of the transaction, the insider owned 35,239 shares in the company, valued at approximately $3,347,705. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,353 shares of company stock worth $4,276,636 over the last quarter. Company 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.