Performance Food Group Company $PFGC Stock Purchased by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. increased its PFGC stake by 4.2% in the third quarter, adding 24,170 shares to reach 595,620 shares, valued at about $54.5 million.
• Performance Food Group reported quarterly EPS of $1.59, just below the $1.60 consensus, and revenue of $18.03 billion, also below estimates; revenue rose 6.7% year over year.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $126. Eleven analysts rated the stock Buy and two rated it Hold.

Factory Mutual Insurance Co. grew its holdings in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 595,620 shares of the food distribution company's stock after purchasing an additional 24,170 shares during the quarter. Factory Mutual Insurance Co. owned approximately 0.38% of Performance Food Group worth $54,505,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cedar Mountain Advisors LLC purchased a new position in Performance Food Group during the first quarter worth about $28,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Performance Food Group in the 3rd quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Performance Food Group during the 2nd quarter valued at about $51,000. Transamerica Financial Advisors LLC acquired a new position in shares of Performance Food Group during the 2nd quarter valued at about $54,000. Finally, Field & Main Bank purchased a new position in shares of Performance Food Group during the 2nd quarter worth about $56,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

PFGC stock opened at $96.09 on Wednesday. The stock has a 50-day moving average price of $95.49 and a two-hundred day moving average price of $97.46. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The company has a market cap of $15.14 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91.

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

Analysts Set New Price Targets

Several research firms recently issued reports on PFGC. UBS Group decreased their target price on shares of Performance Food Group from $132.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Morgan Stanley upped their price target on shares of Performance Food Group from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. Weiss Ratings downgraded shares of Performance Food Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 9th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. Eleven 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.00.

Insider Buying and Selling at Performance Food Group

In related news, insider A. King sold 1,320 shares of the firm'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 transaction, the insider owned 44,216 shares in the company, valued at approximately $4,655,502.64. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hugh Hatcher sold 3,000 shares of Performance Food Group stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the transaction, the insider directly owned 58,167 shares in the company, valued at approximately $5,769,003.06. This trade represents a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 41,459 shares of company stock worth $4,317,917. Company insiders own 2.10% of the company's stock.

Performance Food Group Profile

Performance Food Group Co NYSE: PFGC is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.

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