Performance Food Group Company $PFGC Shares Acquired by Algert Global LLC

Key Points

• Algert Global increased its PFGC stake by 26% in the second quarter, purchasing 26,090 additional shares to hold 126,567 shares valued at approximately $14.1 million. Institutional investors and hedge funds collectively own about 96.9% of the company.
• Wall Street remains broadly positive, with 11 analysts rating the stock a Buy and two rating it Hold. PFGC has a consensus “Moderate Buy” rating and an average price target of $126.90, above its recent price near $105.
• Performance Food Group reported 6.7% year-over-year revenue growth, but narrowly missed quarterly EPS and revenue estimates. Recent insider selling and elevated product-cost inflation may weigh on sentiment despite the company’s continued sales and earnings growth.

Algert Global LLC increased its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 26.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,567 shares of the food distribution company's stock after purchasing an additional 26,090 shares during the period. Algert Global LLC owned 0.08% of Performance Food Group worth $14,149,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC purchased a new stake in Performance Food Group during the 1st quarter worth approximately $28,000. Asset Planning Inc acquired a new stake in Performance Food Group in the first quarter valued at $35,000. Torren Management LLC acquired a new stake in shares of Performance Food Group in the 4th quarter valued at about $41,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Performance Food Group in the 4th quarter valued at about $43,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Performance Food Group during the second quarter worth about $51,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on PFGC shares. BMO Capital Markets restated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Citigroup raised their target price on Performance Food Group from $143.00 to $144.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, Guggenheim increased their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.90.

Insiders Place Their Bets

In related news, insider Erika T. Davis sold 1,320 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the transaction, the insider directly owned 40,402 shares in the company, valued at $4,253,926.58. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider A Brent King sold 1,320 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $138,982.80. Following the sale, the insider owned 44,216 shares in the company, valued at approximately $4,655,502.64. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,391 shares of company stock worth $6,267,460 in the last 90 days. 4.50% of the stock is owned by company insiders.

Performance Food Group Stock Performance

Performance Food Group stock opened at $104.94 on Wednesday. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The firm's 50 day simple moving average is $110.14 and its 200-day simple moving average is $98.43. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The company has a market cap of $16.53 billion, a P/E ratio of 45.82, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The company's revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Performance Food Group Company will post 5.58 EPS for the current year.

Key Headlines Impacting Performance Food Group

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott... on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

About Performance Food Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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