Primecap Management Co. CA Acquires 1,122,676 Shares of Performance Food Group (NYSE:PFGC)

Primecap Management Co. CA lifted its stake in Performance Food Group (NYSE:PFGC - Free Report) by 223.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,625,280 shares of the food distribution company's stock after acquiring an additional 1,122,676 shares during the period. Primecap Management Co. CA owned approximately 1.04% of Performance Food Group worth $107,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PFGC. Rise Advisors LLC acquired a new position in Performance Food Group in the 1st quarter valued at approximately $29,000. Innealta Capital LLC bought a new stake in shares of Performance Food Group during the second quarter valued at approximately $30,000. Mather Group LLC. acquired a new position in shares of Performance Food Group in the first quarter valued at $44,000. GAMMA Investing LLC lifted its position in Performance Food Group by 65.2% in the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company's stock worth $58,000 after purchasing an additional 349 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Performance Food Group during the fourth quarter worth $87,000. Institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of PFGC traded down $0.39 on Wednesday, hitting $75.48. The company's stock had a trading volume of 760,546 shares, compared to its average volume of 1,039,835. The company has a market capitalization of $11.76 billion, a PE ratio of 28.16, a PEG ratio of 0.80 and a beta of 1.44. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The company has a 50 day moving average price of $69.86 and a 200 day moving average price of $70.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted 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. 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 for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PFGC shares. Jefferies Financial Group increased their price objective on shares of Performance Food Group from $84.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on Performance Food Group from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. Morgan Stanley lowered their price objective on 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. Finally, Barclays raised their target price on Performance Food Group from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $86.38.

Insider Buying and Selling at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the sale, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is currently owned by corporate insiders.

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.