56,227 Shares in Performance Food Group Company $PFGC Acquired by Commerce Bank

Commerce Bank bought a new stake in Performance Food Group Company (NYSE:PFGC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 56,227 shares of the food distribution company’s stock, valued at approximately $6,286,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Performance Food Group by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after buying an additional 184,066 shares in the last quarter. Empowered Funds LLC purchased a new position in Performance Food Group during the 1st quarter valued at about $359,000. EverSource Wealth Advisors LLC boosted its holdings in Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after acquiring an additional 537 shares during the period. Marshall Wace LLP acquired a new position in Performance Food Group in the 2nd quarter valued at about $230,000. Finally, Qube Research & Technologies Ltd grew its position in Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after acquiring an additional 273,997 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 0.0%

Shares of Performance Food Group stock opened at $104.99 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. 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 capitalization of $16.54 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a 50 day moving average of $110.09 and a 200 day moving average of $98.26.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. As a group, research analysts forecast that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Erika T. Davis sold 1,529 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $104.64, for a total transaction of $159,994.56. Following the completion of the sale, the insider owned 52,963 shares in the company, valued at $5,542,048.32. The trade was a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chasity D. Grosh sold 838 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $104.64, for a total transaction of $87,688.32. Following the completion of the transaction, the insider owned 8,142 shares in the company, valued at $851,978.88. This represents a 9.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,583 shares of company stock valued at $2,913,872. Corporate insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFGC. Weiss Ratings raised shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Citigroup increased their target price on shares of Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company raised their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $133.00 price target on shares of Performance Food Group in a research note on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and an average price target of $126.90.

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.