WCM Investment Management LLC Sells 6,306 Shares of Performance Food Group Company $PFGC

WCM Investment Management LLC trimmed its position in shares of Performance Food Group Company (NYSE:PFGC) by 3.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 188,684 shares of the food distribution company’s stock after selling 6,306 shares during the quarter. WCM Investment Management LLC’s holdings in Performance Food Group were worth $15,900,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Performance Food Group in the fourth quarter worth approximately $208,170,000. Wellington Management Group LLP raised its stake in shares of Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after acquiring an additional 1,964,799 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after acquiring an additional 1,168,869 shares during the last quarter. Eminence Capital LP lifted its holdings in shares of Performance Food Group by 60.5% in the 4th quarter. Eminence Capital LP now owns 2,647,353 shares of the food distribution company’s stock worth $238,050,000 after acquiring an additional 998,249 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Performance Food Group in the 4th quarter valued at $81,020,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 0.1%

Shares of NYSE PFGC opened at $111.82 on Monday. The firm’s fifty day moving average is $103.18 and its 200 day moving average is $95.17. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $116.42. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 53.25, a PEG ratio of 1.40 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current year.

Insider Activity

In related news, insider A Brent King sold 6,111 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the sale, the insider directly owned 44,260 shares of the company’s stock, valued at $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the director owned 11,935 shares in the company, valued at approximately $1,133,825. This represents a 17.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,187 shares of company stock valued at $3,027,315. Company insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Barclays raised their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Morgan Stanley lifted their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup increased their target price on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Eleven 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 company has an average rating of “Moderate Buy” and an average price target of $123.09.

Performance Food Group Profile

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.