Thompson Investment Management Inc. Cuts Stock Holdings in Performance Food Group (NYSE:PFGC)

Thompson Investment Management Inc. decreased its position in Performance Food Group (NYSE:PFGC - Free Report) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,584 shares of the food distribution company's stock after selling 4,070 shares during the quarter. Performance Food Group makes up 1.4% of Thompson Investment Management Inc.'s investment portfolio, making the stock its 22nd largest position. Thompson Investment Management Inc. owned 0.07% of Performance Food Group worth $9,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Performance Food Group during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC boosted its position in Performance Food Group by 203.7% during the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after acquiring an additional 334 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Performance Food Group by 72.6% during the 4th quarter. Blue Trust Inc. now owns 566 shares of the food distribution company's stock worth $48,000 after acquiring an additional 238 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Performance Food Group by 51.4% during the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock worth $60,000 after acquiring an additional 239 shares during the period. Finally, J.Safra Asset Management Corp raised its position in shares of Performance Food Group by 40.8% in the 4th quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock worth $66,000 after acquiring an additional 226 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Performance Food Group Stock Performance

Performance Food Group stock traded up $0.83 during mid-day trading on Thursday, reaching $87.53. 638,747 shares of the stock traded hands, compared to its average volume of 1,120,184. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The business's 50-day moving average is $82.84 and its 200-day moving average is $83.75. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The stock has a market capitalization of $13.66 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.18.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). The business had revenue of $15.31 billion for the quarter, compared to analysts' expectations of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. During the same period in the previous year, the company earned $0.80 EPS. Performance Food Group's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Activity

In other news, insider Donald S. Bulmer sold 2,404 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the completion of the sale, the insider now directly owns 51,350 shares of the company's stock, valued at $4,621,500. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erika T. Davis sold 8,200 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the transaction, the insider now directly owns 46,722 shares of the company's stock, valued at $4,191,897.84. This represents a 14.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,972 shares of company stock valued at $5,964,073 in the last 90 days. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PFGC shares. Truist Financial reduced their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Morgan Stanley boosted their target price on shares of Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. UBS Group upped their target price on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the company an "overweight" rating in a research report on Thursday, May 29th. Finally, Citigroup assumed coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They set a "buy" rating and a $121.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.08.

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.