Performance Food Group Company $PFGC Shares Sold by Palestra Capital Management LLC

Key Points

• Palestra Capital Management LLC has decreased its stake in Performance Food Group Company (NYSE:PFGC) by 9.6%, now holding 1,792,500 shares valued at approximately $140.9 million.
• Performance Food Group reported a year-over-year revenue increase of 11.2% for the most recent quarter, with earnings per share (EPS) of $1.55 surpassing analyst estimates.
• Multiple institutional investors have increased their positions in Performance Food Group, with Victory Capital Management Inc. boosting its stake by 59.3% during the same period.

Palestra Capital Management LLC lessened its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,792,500 shares of the food distribution company's stock after selling 190,877 shares during the period. Performance Food Group comprises approximately 5.6% of Palestra Capital Management LLC's portfolio, making the stock its 7th largest position. Palestra Capital Management LLC owned 1.15% of Performance Food Group worth $140,944,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Performance Food Group by 746.2% in the first quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company's stock valued at $879,000 after buying an additional 9,857 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Performance Food Group by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,221,430 shares of the food distribution company's stock valued at $174,647,000 after acquiring an additional 137,998 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Performance Food Group by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,282,070 shares of the food distribution company's stock worth $100,809,000 after purchasing an additional 60,745 shares during the period. Boston Partners increased its stake in Performance Food Group by 39.0% during the first quarter. Boston Partners now owns 108,933 shares of the food distribution company's stock worth $8,565,000 after purchasing an additional 30,578 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Performance Food Group during the first quarter worth about $69,456,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Donald S. Bulmer sold 4,348 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $100.52, for a total value of $437,060.96. Following the completion of the sale, the insider owned 58,526 shares in the company, valued at approximately $5,883,033.52. The trade was a 6.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erika T. Davis sold 4,316 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,968 shares of company stock worth $5,944,596. 2.80% of the stock is owned by corporate insiders.

Performance Food Group Stock Down 0.2%

NYSE:PFGC traded down $0.17 during midday trading on Wednesday, hitting $104.20. 1,489,296 shares of the company were exchanged, compared to its average volume of 1,529,137. Performance Food Group Company has a fifty-two week low of $68.39 and a fifty-two week high of $105.80. The company has a market capitalization of $16.31 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The company has a current ratio of 1.58, a quick ratio of 0.72 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $98.96 and a 200 day simple moving average of $87.82.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $16.85 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Performance Food Group's revenue for the quarter was up 11.2% on a year-over-year basis. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, equities analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PFGC has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of Performance Food Group from $100.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Citigroup began coverage on Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price objective on the stock. Wall Street Zen lowered Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Guggenheim restated a "buy" rating and set a $115.00 price target on shares of Performance Food Group in a report on Tuesday, August 26th. Finally, UBS Group lifted their price objective on Performance Food Group from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $109.67.

Performance Food Group Profile

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.