Victory Capital Management Inc. Lowers Stock Holdings in Performance Food Group Company $PFGC

Victory Capital Management Inc. trimmed its position in Performance Food Group Company (NYSE:PFGC) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,370,995 shares of the food distribution company’s stock after selling 577,659 shares during the quarter. Victory Capital Management Inc. owned approximately 2.79% of Performance Food Group worth $393,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFGC. Goldman Sachs Group Inc. lifted its holdings in shares of Performance Food Group by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after buying an additional 184,066 shares in the last quarter. Empowered Funds LLC bought a new position in Performance Food Group during the first quarter valued at approximately $359,000. EverSource Wealth Advisors LLC grew 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 acquiring an additional 537 shares during the last quarter. Marshall Wace LLP bought a new position in Performance Food Group during the second quarter valued at approximately $230,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Performance Food Group by 499.5% during the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after purchasing an additional 273,997 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Erika T. Davis sold 1,750 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total transaction of $166,250.00. Following the completion of the transaction, the insider directly owned 44,791 shares in the company, valued at $4,255,145. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A Brent King sold 5,641 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $96.63, for a total value of $545,089.83. Following the transaction, the insider owned 57,211 shares of the company’s stock, valued at $5,528,298.93. The trade was a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,731 shares of company stock valued at $1,916,460 over the last ninety days. Insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $104.22 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $16.37 billion, a P/E ratio of 49.63, a P/E/G ratio of 1.63 and a beta of 0.93. The business has a fifty day simple moving average of $92.92 and a two-hundred day simple moving average of $92.34. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $109.05.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays increased their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a research note on Thursday, May 7th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Finally, Citigroup raised their price target on Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” 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 company. According to MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

Performance Food Group Company Profile

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.