WCM Investment Management LLC Reduces Position in Performance Food Group (NYSE:PFGC)

WCM Investment Management LLC trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,090 shares of the food distribution company's stock after selling 9,428 shares during the quarter. WCM Investment Management LLC owned 0.17% of Performance Food Group worth $20,654,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Performance Food Group by 12.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company's stock worth $396,000 after acquiring an additional 584 shares during the period. Quantbot Technologies LP bought a new stake in shares of Performance Food Group during the 1st quarter valued at about $789,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Performance Food Group during the first quarter valued at about $1,918,000. Meeder Asset Management Inc. bought a new position in Performance Food Group in the first quarter worth about $272,000. Finally, Headlands Technologies LLC lifted its holdings in Performance Food Group by 339.5% in the first quarter. Headlands Technologies LLC now owns 3,072 shares of the food distribution company's stock worth $229,000 after buying an additional 2,373 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Stock Performance

NYSE PFGC traded up $1.29 during trading hours on Monday, hitting $87.26. 1,054,269 shares of the company's stock traded hands, compared to its average volume of 1,029,041. The company has a current ratio of 1.70, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. Performance Food Group has a 52 week low of $60.59 and a 52 week high of $89.00. The firm has a market capitalization of $13.60 billion, a P/E ratio of 31.72, a P/E/G ratio of 0.87 and a beta of 1.44. The business's fifty day moving average price is $78.82 and its two-hundred day moving average price is $72.19.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.06). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 earnings per share. Equities research analysts predict that Performance Food Group will post 4.71 EPS for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the business's stock in a transaction 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 sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider George L. Holm sold 63,500 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PFGC shares. Wells Fargo & Company upped their price target on Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Guggenheim increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley reiterated an "equal weight" rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Finally, Barclays lifted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

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.