WCM Investment Management LLC Cuts Stock Holdings in Performance Food Group Company (NYSE:PFGC)

WCM Investment Management LLC cut its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 29.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,619 shares of the food distribution company's stock after selling 75,929 shares during the period. WCM Investment Management LLC owned 0.12% of Performance Food Group worth $14,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KBC Group NV lifted its position in Performance Food Group by 8.8% during the first quarter. KBC Group NV now owns 6,544 shares of the food distribution company's stock valued at $515,000 after purchasing an additional 527 shares during the last quarter. Highland Capital Management LLC grew its stake in Performance Food Group by 25.1% in the 1st quarter. Highland Capital Management LLC now owns 3,647 shares of the food distribution company's stock worth $287,000 after acquiring an additional 732 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Performance Food Group by 353.5% during the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock worth $71,000 after purchasing an additional 707 shares during the period. Steph & Co. increased its stake in shares of Performance Food Group by 6.7% during the first quarter. Steph & Co. now owns 4,451 shares of the food distribution company's stock valued at $350,000 after buying an additional 280 shares during the period. Finally, Moran Wealth Management LLC raised its holdings in shares of Performance Food Group by 1.1% in the 1st quarter. Moran Wealth Management LLC now owns 94,656 shares of the food distribution company's stock valued at $7,443,000 after purchasing an additional 989 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PFGC. Citigroup assumed coverage on Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 target price on the stock. Barclays raised their price objective on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a report on Saturday, June 28th. Morgan Stanley raised their price target 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. Finally, Sanford C. Bernstein set a $112.00 price objective on shares of Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.08.

Performance Food Group Stock Performance

Shares of NYSE PFGC traded up $0.68 during midday trading on Friday, reaching $88.87. The company had a trading volume of 353,739 shares, compared to its average volume of 1,092,297. Performance Food Group Company has a 1 year low of $61.60 and a 1 year high of $92.44. The business's 50-day simple moving average is $85.99 and its 200 day simple moving average is $83.54. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The stock has a market cap of $13.87 billion, a P/E ratio of 37.03, a P/E/G ratio of 1.24 and a beta of 1.15.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The business's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Erika T. Davis sold 8,200 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the transaction, the insider directly owned 46,722 shares in the company, valued at $4,191,897.84. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Howard Hoskins sold 19,113 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the completion of the sale, the insider directly owned 152,293 shares in the company, valued at approximately $13,333,252.15. The trade was a 11.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,972 shares of company stock worth $5,964,073 in the last 90 days. Corporate insiders own 2.80% of the company's stock.

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.