Sunriver Management LLC Has $48.19 Million Stake in Performance Food Group Company $PFGC

Sunriver Management LLC decreased its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 29.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,141 shares of the food distribution company’s stock after selling 192,259 shares during the period. Performance Food Group makes up about 5.2% of Sunriver Management LLC’s portfolio, making the stock its 8th largest position. Sunriver Management LLC owned approximately 0.30% of Performance Food Group worth $48,185,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Performance Food Group by 0.8% in the 3rd quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock worth $2,335,371,000 after acquiring an additional 185,624 shares during the last quarter. Holocene Advisors LP boosted its holdings in Performance Food Group by 8.6% during the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock worth $269,318,000 after acquiring an additional 244,793 shares during the last quarter. Invesco Ltd. grew its position in Performance Food Group by 79.1% in the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after purchasing an additional 1,168,869 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Performance Food Group by 22.1% in the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock valued at $224,930,000 after acquiring an additional 465,807 shares in the last quarter. Finally, Eminence Capital LP grew its stake in Performance Food Group by 6.7% in the 2nd quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company’s stock valued at $196,880,000 after purchasing an additional 141,864 shares during the period. 96.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Citigroup decreased their target price on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. UBS Group decreased their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, Guggenheim restated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Buying and Selling at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the transaction, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Performance Food Group Trading Up 0.7%

Shares of PFGC traded up $0.60 during trading hours on Friday, hitting $87.82. The company had a trading volume of 38,006 shares, compared to its average volume of 2,549,375. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average price is $93.42 and its 200 day moving average price is $96.82. The firm has a market cap of $13.77 billion, a P/E ratio of 39.89, a P/E/G ratio of 1.24 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The company had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.