Performance Food Group (NYSE:PFGC) Holdings Trimmed by Royal Bank of Canada

Royal Bank of Canada reduced its stake in shares of Performance Food Group (NYSE:PFGC – Get Rating) by 60.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,391 shares of the food distribution company’s stock after selling 425,246 shares during the period. Royal Bank of Canada owned 0.18% of Performance Food Group worth $12,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its position in Performance Food Group by 0.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 45,267 shares of the food distribution company’s stock worth $1,944,000 after acquiring an additional 207 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in Performance Food Group during the 3rd quarter worth $4,842,000. Quadrant Capital Group LLC lifted its position in Performance Food Group by 43.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 834 shares of the food distribution company’s stock worth $36,000 after acquiring an additional 251 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Performance Food Group by 4.4% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 6,643 shares of the food distribution company’s stock worth $305,000 after acquiring an additional 279 shares during the last quarter. Finally, Steph & Co. lifted its position in Performance Food Group by 3.4% during the 3rd quarter. Steph & Co. now owns 8,505 shares of the food distribution company’s stock worth $365,000 after acquiring an additional 280 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

PFGC opened at $56.91 on Thursday. Performance Food Group has a one year low of $38.23 and a one year high of $63.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.71 and a quick ratio of 0.73. The company’s 50 day simple moving average is $59.18 and its 200-day simple moving average is $54.91. The stock has a market capitalization of $8.89 billion, a P/E ratio of 33.09 and a beta of 1.36.

Performance Food Group (NYSE:PFGC – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The food distribution company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Performance Food Group had a net margin of 0.47% and a return on equity of 16.15%. The business had revenue of $13.90 billion for the quarter, compared to analysts’ expectations of $13.89 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. Performance Food Group’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Performance Food Group will post 3.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PFGC has been the subject of a number of research analyst reports. TheStreet lowered shares of Performance Food Group from a “b” rating to a “c+” rating in a research report on Thursday, February 9th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, January 4th. Barclays upped their price objective on shares of Performance Food Group from $68.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Stephens reissued an “overweight” rating and issued a $68.00 target price on shares of Performance Food Group in a research note on Friday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Activity at Performance Food Group

In related news, insider Patrick T. Hagerty sold 500 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $61.26, for a total value of $30,630.00. Following the transaction, the insider now directly owns 154,290 shares in the company, valued at $9,451,805.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Donald S. Bulmer sold 970 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $59.81, for a total value of $58,015.70. Following the transaction, the insider now directly owns 33,196 shares in the company, valued at $1,985,452.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick T. Hagerty sold 500 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $61.26, for a total transaction of $30,630.00. Following the completion of the sale, the insider now owns 154,290 shares in the company, valued at $9,451,805.40. The disclosure for this sale can be found here. Insiders have sold 2,470 shares of company stock worth $146,166 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Performance Food Group Company Profile

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Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice, Vistar, & Convenience. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.