Performance Food Group (NYSE:PFGC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,544,322 shares of the food distribution company's stock after selling 90,740 shares during the period. Principal Financial Group Inc. owned about 0.99% of Performance Food Group worth $102,095,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in Performance Food Group during the 4th quarter valued at about $29,000. Innealta Capital LLC purchased a new position in Performance Food Group during the 2nd quarter valued at about $30,000. Signaturefd LLC increased its stake in Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company's stock worth $35,000 after purchasing an additional 143 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Performance Food Group in the first quarter valued at approximately $44,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their price target on Performance Food Group from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th. BMO Capital Markets increased their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Jefferies Financial Group upped their target price on shares of Performance Food Group from $84.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Barclays lifted their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, August 15th. Finally, StockNews.com raised shares of Performance Food Group from a "hold" rating to a "buy" rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.38.

Performance Food Group Stock Performance

PFGC traded down $0.30 on Friday, hitting $74.64. 876,299 shares of the company traded hands, compared to its average volume of 1,058,774. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The company has a 50 day moving average of $67.78 and a 200-day moving average of $70.46. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $11.61 billion, a PE ratio of 27.85, a PEG ratio of 0.92 and a beta of 1.42.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. Sell-side analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now owns 149,863 shares in the company, valued at $11,185,774.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Scott E. Mcpherson sold 25,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now owns 149,863 shares of the company's stock, valued at $11,185,774.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider George L. Holm sold 63,500 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,500 shares of company stock worth $6,829,595. Company insiders own 2.60% of the company's stock.

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.