7,472 Shares in Performance Food Group Company $PFGC Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Performance Food Group Company (NYSE:PFGC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,472 shares of the food distribution company’s stock, valued at approximately $835,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Performance Food Group during the 2nd quarter worth approximately $1,576,983,000. Goldman Sachs Group Inc. grew its holdings in Performance Food Group by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock worth $125,972,000 after purchasing an additional 121,202 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Performance Food Group by 7.3% during the fourth quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock worth $18,645,000 after purchasing an additional 14,173 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Performance Food Group by 30.9% during the 4th quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock valued at $4,408,000 after purchasing an additional 11,569 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Performance Food Group in the 4th quarter worth $81,020,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.8%

NYSE:PFGC opened at $104.94 on Wednesday. The company has a market capitalization of $16.53 billion, a P/E ratio of 45.82, a PEG ratio of 1.36 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $117.47. The firm has a fifty day simple moving average of $110.14 and a 200-day simple moving average of $98.43.

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

Insider Transactions at Performance Food Group

In related news, insider A Brent King sold 1,320 shares of Performance Food Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the sale, the insider owned 44,216 shares of the company’s stock, valued at $4,655,502.64. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald S. Bulmer sold 1,353 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $142,457.37. Following the completion of the sale, the insider owned 52,938 shares in the company, valued at approximately $5,573,842.02. This represents a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,391 shares of company stock worth $6,267,460 in the last 90 days. 4.50% of the stock is owned by company insiders.

Key Performance Food Group News

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales rose 6.4% year over year to $18.03 billion, while total case volume increased 3.5% and organic case volume grew 1.8%. Net income also climbed 23.4% to $162.3 million, suggesting that growth was not driven solely by pricing. Performance Food sales and earnings article
• Positive Sentiment: Analyst sentiment remains favorable. Citigroup raised its price target to $144, Wells Fargo increased its target to $130, and Deutsche Bank reiterated a buy rating at $133. The stock has a consensus “Moderate Buy” rating and an average target of $126.90, well above recent trading levels.
• Positive Sentiment: Institutional ownership remains high at approximately 96.9%. Reported buying and position increases by California State Teachers’ Retirement System, BlackRock, Primecap Management, Norges Bank and Wellington Management could provide longer-term support for PFGC.
• Neutral Sentiment: Performance Food Group announced the resignation of board member Scott… on August 24. The available report does not provide a reason, making the immediate effect on the company’s outlook unclear. Performance Food Group board resignation
• Negative Sentiment: Multiple insiders sold shares during August 20–25. The largest disclosed transactions included Donald S. Bulmer selling 10,535 shares, Erika T. Davis selling 8,008 shares and A. Brent King selling 8,023 shares, followed by additional smaller sales. Although such transactions may reflect personal or compensation-related decisions, the clustered selling reduces insider ownership and may pressure near-term sentiment.
• Negative Sentiment: Product-cost inflation reached approximately 4.7%, raising concerns about how much reported sales growth reflects pricing rather than underlying demand. In addition, the latest quarterly EPS and revenue results narrowly missed consensus estimates, while PFGC trades below its 50-day moving average and at a relatively elevated earnings multiple.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PFGC shares. Wells Fargo & Company boosted their target price on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Guggenheim boosted their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. UBS Group cut their price objective on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, TD Cowen cut their price objective on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.90.

Performance Food Group Company 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.