Pacer Advisors Inc. Sells 305,096 Shares of Performance Food Group Company $PFGC

Pacer Advisors Inc. reduced its stake in shares of Performance Food Group Company (NYSE:PFGC) by 94.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,655 shares of the food distribution company’s stock after selling 305,096 shares during the quarter. Pacer Advisors Inc.’s holdings in Performance Food Group were worth $1,598,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PFGC. Cedar Mountain Advisors LLC bought a new stake in Performance Food Group during the 1st quarter valued at about $28,000. Asset Planning Inc purchased a new stake in Performance Food Group in the 1st quarter valued at about $35,000. Torren Management LLC bought a new position in Performance Food Group in the 4th quarter worth about $41,000. Lloyd Advisory Services LLC. bought a new position in Performance Food Group in the 4th quarter worth about $43,000. Finally, Clearstead Advisors LLC increased its position in shares of Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock worth $53,000 after acquiring an additional 335 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Price Performance

NYSE PFGC opened at $114.76 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The firm’s 50 day moving average price is $108.48 and its 200-day moving average price is $97.47. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $117.47. The company has a market cap of $18.03 billion, a PE ratio of 54.65, a P/E/G ratio of 1.44 and a beta of 0.91.

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 (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $16.29 billion for the quarter, compared to analyst estimates 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 was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. Sell-side analysts forecast that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the sale, the insider directly owned 44,260 shares in the company, valued at approximately $4,647,300. The trade was a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,187 shares of company stock worth $3,027,315 over the last quarter. Insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Citigroup lifted their target price on Performance Food Group from $135.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Barclays upped their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wells Fargo & Company increased their price target on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley raised their price target on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $123.82.

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.