GAM Holding AG acquired a new position in shares of Performance Food Group Co (NYSE:PFGC) during the first quarter, Holdings Channel reports. The fund acquired 11,022 shares of the food distribution company’s stock, valued at approximately $437,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Performance Food Group by 75.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the food distribution company’s stock worth $28,000 after purchasing an additional 300 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Performance Food Group during the 4th quarter worth $29,000. Advisor Group Inc. raised its stake in shares of Performance Food Group by 19.8% during the 4th quarter. Advisor Group Inc. now owns 1,834 shares of the food distribution company’s stock worth $59,000 after purchasing an additional 303 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Performance Food Group during the 4th quarter worth $78,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Performance Food Group by 55.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,956 shares of the food distribution company’s stock worth $128,000 after purchasing an additional 1,415 shares during the period. 95.73% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Patrick T. Hagerty sold 7,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $39.71, for a total value of $277,970.00. Following the sale, the insider now directly owns 169,456 shares in the company, valued at approximately $6,729,097.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick T. Hagerty sold 7,450 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $40.85, for a total value of $304,332.50. Following the completion of the sale, the insider now owns 169,006 shares in the company, valued at $6,903,895.10. The disclosure for this sale can be found here. Insiders sold a total of 32,159 shares of company stock worth $1,282,093 over the last 90 days. 3.80% of the stock is currently owned by company insiders.
PFGC has been the topic of a number of recent analyst reports. Zacks Investment Research cut Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Bank of America initiated coverage on Performance Food Group in a research note on Wednesday, April 17th. They set a “buy” rating and a $45.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.18.
Shares of Performance Food Group stock opened at $40.47 on Friday. Performance Food Group Co has a 52-week low of $28.05 and a 52-week high of $41.85. The stock has a market capitalization of $4.26 billion, a P/E ratio of 26.28, a PEG ratio of 1.95 and a beta of 0.71. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.95.
Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Performance Food Group had a net margin of 0.91% and a return on equity of 14.91%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Performance Food Group Co will post 1.78 EPS for the current year.
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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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.
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