Peregrine Capital Management LLC Reduces Position in Performance Food Group Company $PFGC

Peregrine Capital Management LLC trimmed its holdings in Performance Food Group Company (NYSE:PFGC) by 4.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 116,416 shares of the food distribution company’s stock after selling 4,959 shares during the quarter. Peregrine Capital Management LLC’s holdings in Performance Food Group were worth $9,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PFGC. Asset Planning Inc purchased a new stake in shares of Performance Food Group during the 1st quarter valued at about $35,000. Pictet Asset Management Holding SA raised its holdings in shares of Performance Food Group by 7.4% during the first quarter. Pictet Asset Management Holding SA now owns 25,114 shares of the food distribution company’s stock valued at $2,151,000 after purchasing an additional 1,729 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Performance Food Group during the first quarter valued at approximately $3,906,000. BTC Capital Management Inc. lifted its position in Performance Food Group by 13.3% during the first quarter. BTC Capital Management Inc. now owns 6,718 shares of the food distribution company’s stock valued at $575,000 after purchasing an additional 787 shares during the period. Finally, OP Asset Management Ltd bought a new position in Performance Food Group during the first quarter valued at approximately $15,801,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

PFGC has been the topic of several research reports. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup boosted their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Finally, Barclays upped their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $111.79 on Wednesday. The firm has a 50 day moving average of $97.37 and a 200 day moving average of $93.32. 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 $17.56 billion, a price-to-earnings ratio of 53.24, a price-to-earnings-growth ratio of 1.76 and a beta of 0.93. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $112.76.

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

Insider Buying and Selling

In other Performance Food Group news, insider A Brent King sold 6,111 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. This represents a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,187 shares of company stock valued at $3,027,315 in the last 90 days. 4.50% of the stock is owned by company insiders.

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.