Hsbc Holdings PLC Grows Stock Position in Performance Food Group Company $PFGC

Hsbc Holdings PLC lifted its stake in Performance Food Group Company (NYSE:PFGC) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,951 shares of the food distribution company’s stock after buying an additional 11,569 shares during the quarter. Hsbc Holdings PLC’s holdings in Performance Food Group were worth $4,408,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Performance Food Group by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after buying an additional 184,066 shares in the last quarter. Empowered Funds LLC purchased a new position in Performance Food Group in the first quarter valued at $359,000. EverSource Wealth Advisors LLC increased its holdings in Performance Food Group by 440.2% in the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after buying an additional 537 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Performance Food Group in the second quarter worth about $230,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Performance Food Group by 499.5% in the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock worth $28,764,000 after acquiring an additional 273,997 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Trading Up 3.0%

PFGC opened at $110.45 on Friday. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 52.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93. The company’s 50 day simple moving average is $96.53 and its two-hundred day simple moving average is $93.06. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $110.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The business had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. During the same period in the prior year, the business earned $0.79 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $183,750.00. Following the completion of the sale, the insider directly owned 43,041 shares in the company, valued at $4,519,305. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. This trade represents a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 27,592 shares of company stock worth $2,741,865. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday. Barclays increased their target price on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citigroup lifted their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Performance Food Group Profile

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.