Performance Food Group Co (PFGC) Shares Bought by Vanguard Group Inc.

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Vanguard Group Inc. raised its stake in Performance Food Group Co (NYSE:PFGC) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,877,421 shares of the food distribution company’s stock after buying an additional 304,740 shares during the period. Vanguard Group Inc. owned approximately 8.44% of Performance Food Group worth $295,618,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PFGC. United Services Automobile Association increased its stake in shares of Performance Food Group by 15.4% during the 3rd quarter. United Services Automobile Association now owns 15,501 shares of the food distribution company’s stock worth $516,000 after purchasing an additional 2,068 shares in the last quarter. Chicago Equity Partners LLC increased its stake in shares of Performance Food Group by 2.2% during the 3rd quarter. Chicago Equity Partners LLC now owns 117,940 shares of the food distribution company’s stock worth $3,927,000 after purchasing an additional 2,485 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Performance Food Group by 31.2% during the 2nd quarter. SG Americas Securities LLC now owns 10,452 shares of the food distribution company’s stock worth $384,000 after purchasing an additional 2,486 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of Performance Food Group by 42.8% during the 3rd quarter. WINTON GROUP Ltd now owns 8,530 shares of the food distribution company’s stock worth $284,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Performance Food Group by 30.6% during the 3rd quarter. Primecap Management Co. CA now owns 11,100 shares of the food distribution company’s stock worth $370,000 after purchasing an additional 2,600 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Performance Food Group from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Buckingham Research assumed coverage on shares of Performance Food Group in a research note on Monday, October 22nd. They set a “buy” rating and a $39.00 price objective for the company. Wells Fargo & Co reissued a “buy” rating on shares of Performance Food Group in a research note on Friday. Citigroup assumed coverage on shares of Performance Food Group in a research note on Friday, December 21st. They set a “buy” rating and a $40.00 price objective for the company. Finally, Pivotal Research reissued a “hold” rating and set a $31.00 price objective on shares of Performance Food Group in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $38.58.

In other Performance Food Group news, insider Terry A. West sold 20,372 shares of Performance Food Group stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $33.21, for a total value of $676,554.12. Following the completion of the sale, the insider now directly owns 24,872 shares of the company’s stock, valued at approximately $825,999.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas M. Steenland sold 104,275 shares of Performance Food Group stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $34.56, for a total transaction of $3,603,744.00. Following the completion of the sale, the director now directly owns 134,365 shares of the company’s stock, valued at $4,643,654.40. The disclosure for this sale can be found here. Insiders sold a total of 128,194 shares of company stock valued at $4,398,214 over the last ninety days. 3.80% of the stock is owned by corporate insiders.

PFGC stock opened at $33.75 on Monday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.07 and a beta of 0.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.53 and a quick ratio of 0.78. Performance Food Group Co has a one year low of $28.05 and a one year high of $39.45.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, November 7th. The food distribution company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Performance Food Group had a net margin of 1.15% and a return on equity of 15.52%. Performance Food Group’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. As a group, sell-side analysts expect that Performance Food Group Co will post 1.76 EPS for the current year.

Performance Food Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the food distribution company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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