Bank of New York Mellon Corp Increases Holdings in Performance Food Group (NYSE:PFGC)

Bank of New York Mellon Corp boosted its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,258,714 shares of the food distribution company's stock after buying an additional 15,981 shares during the period. Bank of New York Mellon Corp owned approximately 0.81% of Performance Food Group worth $83,214,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc increased its holdings in shares of Performance Food Group by 79.3% in the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company's stock worth $2,180,000 after buying an additional 12,919 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Performance Food Group in the second quarter worth about $6,843,000. BNP Paribas bought a new stake in Performance Food Group during the first quarter worth approximately $1,251,000. Capstone Investment Advisors LLC purchased a new stake in Performance Food Group during the first quarter valued at approximately $1,030,000. Finally, Magnetar Financial LLC bought a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $1,913,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Insider Buying and Selling

In other news, insider George L. Holm sold 63,500 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Performance Food Group news, insider Scott E. Mcpherson sold 25,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares of the company's stock, valued at $11,185,774.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares of the company's stock, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. Insiders sold 92,500 shares of company stock worth $6,829,595 in the last 90 days. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFGC. Morgan Stanley reduced their target price on shares of Performance Food Group from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 16th. StockNews.com raised shares of Performance Food Group from a "hold" rating to a "buy" rating in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their target price on Performance Food Group from $84.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on Performance Food Group from $93.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, Barclays boosted their price objective on Performance Food Group from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $86.38.

Performance Food Group Stock Up 0.3 %

PFGC traded up $0.24 during trading on Thursday, hitting $74.96. The stock had a trading volume of 560,658 shares, compared to its average volume of 1,059,867. The stock has a 50 day simple moving average of $67.48 and a two-hundred day simple moving average of $70.42. The company has a market capitalization of $11.66 billion, a PE ratio of 27.97, a PEG ratio of 0.92 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.54.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The company had revenue of $15.20 billion during the quarter, compared to analysts' expectations of $15.25 billion. During the same period last year, the business posted $1.14 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Performance Food Group will post 4.87 earnings per share for the current year.

Performance Food Group 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.