Performance Food Group (NYSE:PFGC) Shares Sold by abrdn plc

abrdn plc lowered its stake in Performance Food Group (NYSE:PFGC) by 95.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,958 shares of the food distribution company’s stock after selling 652,740 shares during the quarter. abrdn plc’s holdings in Performance Food Group were worth $1,356,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PFGC. Arizona State Retirement System lifted its holdings in Performance Food Group by 1.0% in the first quarter. Arizona State Retirement System now owns 38,870 shares of the food distribution company’s stock worth $2,239,000 after purchasing an additional 375 shares during the period. Fifth Third Bancorp lifted its holdings in Performance Food Group by 5.3% in the first quarter. Fifth Third Bancorp now owns 7,978 shares of the food distribution company’s stock worth $460,000 after purchasing an additional 403 shares during the period. Swiss National Bank lifted its holdings in Performance Food Group by 1.6% in the 1st quarter. Swiss National Bank now owns 305,100 shares of the food distribution company’s stock valued at $17,577,000 after acquiring an additional 4,800 shares during the last quarter. Mariner LLC acquired a new stake in Performance Food Group in the 1st quarter valued at about $653,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Performance Food Group by 65.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 75,197 shares of the food distribution company’s stock valued at $4,332,000 after acquiring an additional 29,780 shares during the last quarter.

In other Performance Food Group news, insider James D. Hope sold 32,177 shares of the company’s stock in a transaction that occurred on Thursday, August 26th. The stock was sold at an average price of $46.30, for a total transaction of $1,489,795.10. Following the completion of the sale, the insider now owns 167,382 shares of the company’s stock, valued at $7,749,786.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew C. Flanigan bought 2,000 shares of the firm’s stock in a transaction on Friday, September 10th. The shares were bought at an average cost of $44.71 per share, with a total value of $89,420.00. Following the transaction, the director now directly owns 23,435 shares of the company’s stock, valued at $1,047,778.85. The disclosure for this purchase can be found here. 2.90% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on PFGC. Raymond James downgraded shares of Performance Food Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 6th. UBS Group began coverage on shares of Performance Food Group in a report on Thursday, July 29th. They issued a “buy” rating and a $62.00 price target for the company. Zacks Investment Research raised shares of Performance Food Group from a “sell” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group reduced their price objective on shares of Performance Food Group from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, August 20th. Finally, BMO Capital Markets reduced their price objective on shares of Performance Food Group from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, September 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $61.44.

PFGC stock opened at $47.46 on Friday. The firm has a market capitalization of $6.36 billion, a PE ratio of 163.66 and a beta of 1.71. Performance Food Group has a one year low of $31.69 and a one year high of $59.89. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average of $45.63 and a two-hundred day moving average of $50.27.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 18th. The food distribution company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.78 billion. Performance Food Group had a return on equity of 8.82% and a net margin of 0.13%. The firm’s quarterly revenue was up 61.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.86) EPS. On average, equities research analysts anticipate that Performance Food Group will post 2.23 earnings per share for the current year.

About Performance Food Group

Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice and Vistar. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.

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

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