Performance Food Group Company $PFGC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP trimmed its stake in Performance Food Group by 14.6%, selling 328,957 shares and finishing the quarter with 1,929,976 shares (~1.23% ownership) valued at about $200.8 million.
• Other institutions increased exposure—Holocene, Primecap, Eminence and Close Asset Management added shares while Norges Bank initiated a roughly $163.95 million stake—leaving about 96.87% of the stock held by institutional investors.
• Insider Chasity D. Grosh sold 1,843 shares (~$169,611), and the company recently missed quarterly expectations with EPS $0.98 vs. $1.07 expected and $16.44 billion in revenue; analysts still rate the stock a "Moderate Buy" with an average target of $116.44.

Dimensional Fund Advisors LP trimmed its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,929,976 shares of the food distribution company's stock after selling 328,957 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.23% of Performance Food Group worth $200,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Holocene Advisors LP increased its position in Performance Food Group by 8.6% during the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company's stock worth $269,318,000 after purchasing an additional 244,793 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Performance Food Group by 22.1% in the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company's stock valued at $224,930,000 after purchasing an additional 465,807 shares in the last quarter. Eminence Capital LP lifted its holdings in Performance Food Group by 6.7% in the 2nd quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company's stock valued at $196,880,000 after purchasing an additional 141,864 shares in the last quarter. Close Asset Management Ltd boosted its stake in shares of Performance Food Group by 7.5% during the 3rd quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company's stock worth $216,536,000 after purchasing an additional 145,387 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Performance Food Group during the 2nd quarter worth about $163,954,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company's stock.

Performance Food Group Price Performance

PFGC stock opened at $87.48 on Monday. The stock has a 50-day moving average price of $93.66 and a two-hundred day moving average price of $97.14. Performance Food Group Company has a 12-month low of $68.39 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 company has a market cap of $13.72 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.09). The firm had revenue of $16.44 billion during the quarter, compared to analysts' expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PFGC. UBS Group reduced their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a report on Monday, December 29th. Sanford C. Bernstein reissued an "outperform" rating on shares of Performance Food Group in a research note on Thursday, February 5th. Guggenheim restated a "buy" rating on shares of Performance Food Group in a report on Thursday, December 18th. Finally, Citigroup lowered their price objective on Performance Food Group from $127.00 to $126.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $116.44.

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.

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