Bessemer Group Inc. Continues to Hold Stake in Performance Food Group Company (PFGC)
Bessemer Group Inc. held its position in Performance Food Group Company (NYSE:PFGC) during the second quarter, Holdings Channel reports. The fund owned 59,200 shares of the restaurant operator’s stock at the end of the second quarter. Bessemer Group Inc.’s holdings in Performance Food Group were worth $1,622,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Performance Food Group by 344.4% in the first quarter. FMR LLC now owns 12,255,431 shares of the restaurant operator’s stock worth $291,680,000 after buying an additional 9,497,642 shares during the period. Wellington Management Group LLP purchased a new position in Performance Food Group during the first quarter worth $70,404,000. Vanguard Group Inc. increased its position in Performance Food Group by 56.9% in the first quarter. Vanguard Group Inc. now owns 5,780,990 shares of the restaurant operator’s stock worth $137,588,000 after buying an additional 2,095,631 shares during the period. Victory Capital Management Inc. increased its position in Performance Food Group by 154.5% in the first quarter. Victory Capital Management Inc. now owns 1,788,521 shares of the restaurant operator’s stock worth $42,567,000 after buying an additional 1,085,701 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Performance Food Group by 23.3% in the first quarter. JPMorgan Chase & Co. now owns 5,394,534 shares of the restaurant operator’s stock worth $128,390,000 after buying an additional 1,020,537 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Performance Food Group Company (PFGC) opened at 27.00 on Friday. The firm has a market cap of $2.80 billion, a P/E ratio of 32.41 and a beta of -0.31. The stock has a 50 day moving average price of $27.77 and a 200 day moving average price of $25.61. Performance Food Group Company has a 12-month low of $19.95 and a 12-month high of $29.25.
Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 10th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Performance Food Group had a return on equity of 13.92% and a net margin of 0.51%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. Performance Food Group’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Performance Food Group Company will post $1.26 earnings per share for the current year.
PFGC has been the subject of a number of recent research reports. Zacks Investment Research downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Loop Capital initiated coverage on Performance Food Group in a report on Monday, May 15th. They issued a “buy” rating and a $35.00 price objective for the company. BidaskClub downgraded Performance Food Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. BMO Capital Markets reissued a “buy” rating and issued a $28.00 price objective on shares of Performance Food Group in a report on Thursday, May 4th. Finally, Guggenheim increased their price objective on Performance Food Group from $20.00 to $30.00 in a report on Friday, June 16th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.31.
In other Performance Food Group news, insider Craig Howard Hoskins sold 7,600 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $27.66, for a total value of $210,216.00. Following the transaction, the insider now owns 183,581 shares of the company’s stock, valued at $5,077,850.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James D. Hope acquired 1,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $27.60 per share, for a total transaction of $27,600.00. Following the transaction, the insider now owns 64,657 shares of the company’s stock, valued at approximately $1,784,533.20. The disclosure for this purchase can be found here. Insiders have sold 13,810,265 shares of company stock valued at $378,625,068 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.
About Performance Food Group
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products.
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