Wellington Management Group LLP Sells 847,030 Shares of Performance Food Group Company $PFGC

Wellington Management Group LLP lessened its position in Performance Food Group Company (NYSE:PFGC) by 44.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,039,162 shares of the food distribution company’s stock after selling 847,030 shares during the period. Wellington Management Group LLP owned 0.66% of Performance Food Group worth $116,168,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Performance Food Group by 0.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after purchasing an additional 121 shares during the last quarter. HB Wealth Management LLC raised its holdings in Performance Food Group by 3.8% in the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after buying an additional 122 shares during the last quarter. Arax Advisory Partners raised its holdings in Performance Food Group by 7.4% in the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock valued at $184,000 after buying an additional 140 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Performance Food Group by 16.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after buying an additional 143 shares during the period. Finally, Cornerstone Wealth Management LLC increased its position in Performance Food Group by 6.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock valued at $243,000 after acquiring an additional 173 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of recent research reports. UBS Group cut their price target on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Morgan Stanley increased their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. TD Cowen lowered their target price on Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a report on Thursday, August 13th. Finally, Guggenheim increased their price target on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.90.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 643 shares of Performance Food Group stock in a transaction on Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $67,142.06. Following the completion of the sale, the insider directly owned 7,222 shares of the company’s stock, valued at approximately $754,121.24. The trade was a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald S. Bulmer sold 1,353 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $142,457.37. Following the transaction, the insider owned 52,938 shares in the company, valued at $5,573,842.02. This represents a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,750 shares of company stock valued at $5,722,370. Company insiders own 4.50% of the company’s stock.

Performance Food Group Trading Down 0.0%

Shares of PFGC stock opened at $99.15 on Wednesday. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. The stock has a 50 day simple moving average of $109.86 and a two-hundred day simple moving average of $98.76. The company has a market cap of $15.62 billion, a P/E ratio of 43.30, a PEG ratio of 1.27 and a beta of 0.88.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Research analysts forecast that Performance Food Group Company will post 5.58 earnings per share for the current year.

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.