Performance Food Group Company $PFGC Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc cut its position in Performance Food Group by 32.0%, selling 66,147 shares and ending the quarter with 140,449 shares worth about $12.63 million.
• Performance Food Group missed quarterly estimates, reporting $0.98 EPS versus $1.07 expected and $16.44 billion in revenue versus $16.54 billion expected, although revenue was up 5.2% year-over-year.
• Analysts hold a consensus Moderate Buy rating with an average price target of $116.44; the stock trades near $90.21 with a market cap of $14.15 billion and a P/E of 41.01.

AEGON ASSET MANAGEMENT UK Plc reduced its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,449 shares of the food distribution company's stock after selling 66,147 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.09% of Performance Food Group worth $12,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Performance Food Group by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company's stock worth $1,134,000 after buying an additional 113 shares in the last quarter. US Bancorp DE grew its stake in Performance Food Group by 4.6% during the 3rd quarter. US Bancorp DE now owns 3,283 shares of the food distribution company's stock valued at $342,000 after acquiring an additional 144 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Performance Food Group by 0.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company's stock valued at $2,183,000 after acquiring an additional 189 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Performance Food Group by 29.3% in the third quarter. EverSource Wealth Advisors LLC now owns 852 shares of the food distribution company's stock valued at $89,000 after purchasing an additional 193 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Performance Food Group by 55.4% in the third quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company's stock valued at $59,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFGC. Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a report on Friday, March 27th. Barclays cut their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, January 7th. Morgan Stanley reduced their target price on shares of Performance Food Group from $123.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, February 5th. Zacks Research upgraded shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Performance Food Group in a research note on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.44.

Performance Food Group Price Performance

PFGC opened at $90.21 on Friday. The stock's 50-day moving average price is $89.37 and its 200 day moving average price is $93.09. Performance Food Group Company has a 12-month low of $77.44 and a 12-month high of $109.05. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 1.42 and a beta of 0.94.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, sell-side analysts expect that Performance Food Group Company will post 4.59 earnings per share for the current year.

Insider Activity

In other news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.50% of the company's stock.

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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