Daiwa Securities Group Inc. Trims Position in Performance Food Group (NYSE:PFGC)

Daiwa Securities Group Inc. lessened its holdings in shares of Performance Food Group (NYSE:PFGC) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,612 shares of the food distribution company’s stock after selling 1,962 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.05% of Performance Food Group worth $6,474,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PFGC. Primecap Management Co. CA lifted its stake in shares of Performance Food Group by 223.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Performance Food Group by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after buying an additional 469,500 shares during the period. Point72 Asset Management L.P. raised its position in shares of Performance Food Group by 27.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Performance Food Group by 166.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock worth $21,588,000 after buying an additional 171,953 shares during the period. Finally, Eminence Capital LP raised its position in shares of Performance Food Group by 7.4% in the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after buying an additional 164,472 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 1.3 %

Shares of Performance Food Group stock opened at $88.76 on Tuesday. The business has a 50-day moving average of $81.60 and a 200-day moving average of $73.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The company has a market capitalization of $13.83 billion, a PE ratio of 32.75, a P/E/G ratio of 0.94 and a beta of 1.44. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $89.73.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. As a group, equities analysts forecast that Performance Food Group will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. This trade represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Guggenheim increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, UBS Group raised their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and an average price target of $94.27.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.