Legal & General Group Plc Has $23.16 Million Stake in Performance Food Group Company $PFGC

Legal & General Group Plc trimmed its holdings in Performance Food Group Company (NYSE:PFGC) by 20.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 257,575 shares of the food distribution company’s stock after selling 67,618 shares during the period. Legal & General Group Plc’s holdings in Performance Food Group were worth $23,161,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PFGC. Torren Management LLC acquired a new position in Performance Food Group during the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group during the fourth quarter valued at approximately $43,000. EverSource Wealth Advisors LLC raised its position in Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 537 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Performance Food Group during the fourth quarter valued at approximately $62,000. Finally, AlphaQuest LLC raised its position in Performance Food Group by 76.0% during the third quarter. AlphaQuest LLC now owns 667 shares of the food distribution company’s stock valued at $69,000 after purchasing an additional 288 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PFGC. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. UBS Group decreased their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Finally, Barclays boosted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $98.34 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $109.05. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of 46.83, a P/E/G ratio of 1.54 and a beta of 0.93. The company’s fifty day moving average is $89.97 and its 200 day moving average is $92.07.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. Performance Food Group’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts forecast that Performance Food Group Company will post 4.57 EPS for the current year.

Insider Activity

In other news, insider Erika T. Davis sold 1,750 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total value of $166,250.00. Following the transaction, the insider directly owned 44,791 shares of the company’s stock, valued at $4,255,145. The trade was a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly Grant sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the transaction, the director directly owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,250 shares of company stock valued at $687,370 in the last ninety days. 4.50% of the stock is owned by company insiders.

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.