GW&K Investment Management LLC Increases Stock Position in Performance Food Group Co (NYSE:PFGC)

GW&K Investment Management LLC raised its holdings in Performance Food Group Co (NYSE:PFGC) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,510,039 shares of the food distribution company’s stock after purchasing an additional 127,096 shares during the quarter. Performance Food Group accounts for about 1.0% of GW&K Investment Management LLC’s holdings, making the stock its 13th biggest position. GW&K Investment Management LLC’s holdings in Performance Food Group were worth $69,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Capital Management Inc. ADV purchased a new stake in Performance Food Group in the 3rd quarter valued at approximately $39,000. Tower Research Capital LLC TRC purchased a new stake in Performance Food Group in the 2nd quarter valued at approximately $45,000. Meeder Asset Management Inc. purchased a new stake in Performance Food Group in the 2nd quarter valued at approximately $54,000. NEXT Financial Group Inc boosted its holdings in Performance Food Group by 12.9% in the 2nd quarter. NEXT Financial Group Inc now owns 2,114 shares of the food distribution company’s stock valued at $85,000 after purchasing an additional 242 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in Performance Food Group in the 3rd quarter valued at approximately $202,000. 97.15% of the stock is currently owned by institutional investors.

Shares of NYSE:PFGC traded down $1.61 during trading on Friday, hitting $44.14. 706,952 shares of the stock were exchanged, compared to its average volume of 630,763. The company has a fifty day moving average price of $44.07 and a two-hundred day moving average price of $42.74. The company has a market cap of $4.56 billion, a PE ratio of 23.86, a P/E/G ratio of 1.89 and a beta of 0.60. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 1.03. Performance Food Group Co has a 12-month low of $30.07 and a 12-month high of $47.26.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.15. The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.10 billion. Performance Food Group had a return on equity of 15.86% and a net margin of 0.84%. The company’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. Equities research analysts anticipate that Performance Food Group Co will post 1.98 earnings per share for the current fiscal year.

In related news, insider Christine R. Vlahcevic sold 7,879 shares of Performance Food Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $45.27, for a total transaction of $356,682.33. Following the completion of the transaction, the insider now directly owns 19,807 shares in the company, valued at approximately $896,662.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick T. Hagerty sold 7,000 shares of Performance Food Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.57, for a total value of $325,990.00. Following the transaction, the insider now owns 138,406 shares of the company’s stock, valued at $6,445,567.42. The disclosure for this sale can be found here. Insiders have sold a total of 31,888 shares of company stock worth $1,429,538 in the last three months. Corporate insiders own 3.40% of the company’s stock.

PFGC has been the topic of a number of analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Performance Food Group in a report on Friday, September 27th. Buckingham Research lifted their price objective on Performance Food Group from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday. Barclays lifted their price objective on Performance Food Group from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday. Loop Capital lifted their price objective on Performance Food Group to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Zacks Investment Research raised Performance Food Group from a “sell” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $48.10.

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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Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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