Wellington Management Group LLP Sells 1,066,123 Shares of Performance Food Group (NYSE:PFGC)

Wellington Management Group LLP reduced its stake in Performance Food Group (NYSE:PFGC - Free Report) by 22.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,762,555 shares of the food distribution company's stock after selling 1,066,123 shares during the period. Wellington Management Group LLP owned 2.41% of Performance Food Group worth $294,871,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock worth $26,000 after purchasing an additional 242 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Performance Food Group during the 3rd quarter worth $26,000. Venturi Wealth Management LLC lifted its holdings in Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock worth $32,000 after acquiring an additional 274 shares in the last quarter. UMB Bank n.a. grew its stake in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company's stock valued at $36,000 after acquiring an additional 365 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Performance Food Group in the second quarter worth about $30,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFGC has been the topic of several recent analyst reports. StockNews.com upgraded Performance Food Group from a "hold" rating to a "buy" rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Guggenheim upped their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, Truist Financial upped their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $94.27.

Performance Food Group Stock Down 0.4 %

Shares of NYSE PFGC traded down $0.38 during mid-day trading on Friday, hitting $90.19. The company had a trading volume of 942,909 shares, compared to its average volume of 920,255. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The firm has a 50-day simple moving average of $83.69 and a two-hundred day simple moving average of $74.53. The company has a market capitalization of $14.05 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. Performance Food Group has a one year low of $61.60 and a one year high of $92.44.

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

Insider Buying and Selling at Performance Food Group

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the transaction, the insider now directly owns 192,868 shares in the company, valued at approximately $17,026,387.04. The trade was a 9.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.

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.