American International Group Inc. Sells 9,826 Shares of Performance Food Group (NYSE:PFGC)

American International Group Inc. lessened its stake in shares of Performance Food Group (NYSE:PFGCFree Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,788 shares of the food distribution company’s stock after selling 9,826 shares during the quarter. American International Group Inc. owned approximately 0.14% of Performance Food Group worth $14,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. raised its stake in shares of Performance Food Group by 414.1% during the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after acquiring an additional 1,770,683 shares in the last quarter. Norges Bank purchased a new stake in shares of Performance Food Group during the 4th quarter valued at $119,726,000. Clearbridge Investments LLC boosted its position in shares of Performance Food Group by 16.1% in the 3rd quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company’s stock worth $373,684,000 after purchasing an additional 879,232 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Performance Food Group by 162.5% in the 3rd quarter. Earnest Partners LLC now owns 768,432 shares of the food distribution company’s stock worth $45,230,000 after purchasing an additional 475,683 shares in the last quarter. Finally, Palestra Capital Management LLC grew its stake in Performance Food Group by 25.1% during the 3rd quarter. Palestra Capital Management LLC now owns 2,259,010 shares of the food distribution company’s stock worth $132,965,000 after buying an additional 453,453 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of PFGC stock traded down $0.83 during trading hours on Friday, reaching $67.76. The company had a trading volume of 635,394 shares, compared to its average volume of 851,753. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 1.64. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 0.98 and a beta of 1.41. The stock has a fifty day moving average of $69.76 and a 200-day moving average of $71.13.

Performance Food Group (NYSE:PFGCGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Performance Food Group will post 4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of research reports. Barclays decreased their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Finally, Morgan Stanley boosted their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.14.

View Our Latest Analysis on PFGC

Performance Food Group Profile

(Free Report)

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.

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

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