Victory Capital Management Inc. Decreases Stock Position in Performance Food Group (NYSE:PFGC)

Victory Capital Management Inc. lessened its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 1.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,710,846 shares of the food distribution company's stock after selling 21,401 shares during the period. Victory Capital Management Inc. owned about 1.10% of Performance Food Group worth $113,104,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. increased its stake in shares of Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company's stock worth $152,011,000 after purchasing an additional 1,770,683 shares during the period. Norges Bank acquired a new position in shares of Performance Food Group in the 4th quarter valued at $119,726,000. Wellington Management Group LLP raised its stake in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company's stock valued at $447,645,000 after buying an additional 397,114 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Performance Food Group during the 4th quarter worth about $11,410,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Performance Food Group during the 4th quarter valued at about $11,230,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Performance Food Group stock traded down $1.63 during midday trading on Friday, reaching $71.50. The company's stock had a trading volume of 476,550 shares, compared to its average volume of 1,052,838. The business has a 50-day moving average price of $68.30 and a 200-day moving average price of $70.43. The stock has a market cap of $11.13 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

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

Insider Buying and Selling

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now owns 162,987 shares of the company's stock, valued at approximately $12,152,310.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Kimberly Grant sold 4,000 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares of the company's stock, valued at approximately $749,644.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick T. Hagerty sold 8,000 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now owns 162,987 shares of the company's stock, valued at approximately $12,152,310.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of recent research reports. Truist Financial lifted their price objective on Performance Food Group from $86.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Jefferies Financial Group increased their price objective on Performance Food Group from $84.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their target price 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. Morgan Stanley lowered 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 report on Tuesday, July 16th. Finally, Barclays lifted their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.38.

About Performance Food Group

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.