Performance Food Group (NYSE:PFGC) Position Cut by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its holdings in shares of Performance Food Group (NYSE:PFGC) by 33.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,777 shares of the food distribution company’s stock after selling 121,312 shares during the period. Loomis Sayles & Co. L P owned approximately 0.16% of Performance Food Group worth $19,340,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PFGC. Harvest Fund Management Co. Ltd raised its position in shares of Performance Food Group by 110.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,290 shares of the food distribution company’s stock worth $179,000 after buying an additional 1,201 shares in the last quarter. Larson Financial Group LLC raised its holdings in Performance Food Group by 4.1% during the third quarter. Larson Financial Group LLC now owns 38,063 shares of the food distribution company’s stock worth $2,983,000 after purchasing an additional 1,495 shares in the last quarter. Cerity Partners LLC lifted its position in Performance Food Group by 12.7% in the third quarter. Cerity Partners LLC now owns 61,186 shares of the food distribution company’s stock worth $4,795,000 after purchasing an additional 6,892 shares during the period. Nicolet Advisory Services LLC bought a new position in Performance Food Group during the 3rd quarter valued at $627,000. Finally, Citigroup Inc. increased its position in shares of Performance Food Group by 3.9% during the 3rd quarter. Citigroup Inc. now owns 88,312 shares of the food distribution company’s stock valued at $6,921,000 after purchasing an additional 3,298 shares during the period. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PFGC shares. UBS Group upped their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $88.08 on Wednesday. The stock’s fifty day simple moving average is $81.84 and its 200-day simple moving average is $73.59. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $89.73.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the prior year, the company earned $1.15 EPS. Performance Food Group’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts predict that Performance Food Group will post 4.73 earnings per share for the current fiscal year.

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.