Principal Financial Group Inc. Cuts Stake in Performance Food Group (NYSE:PFGC)

Principal Financial Group Inc. trimmed its stake in Performance Food Group (NYSE:PFGC) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,461,894 shares of the food distribution company’s stock after selling 82,428 shares during the quarter. Principal Financial Group Inc. owned about 0.94% of Performance Food Group worth $114,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors raised its holdings in shares of Performance Food Group by 0.5% in the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock worth $1,606,782,000 after purchasing an additional 100,244 shares during the period. Eminence Capital LP raised its holdings in Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after buying an additional 164,472 shares during the period. Dimensional Fund Advisors LP raised its holdings in Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after buying an additional 469,500 shares during the period. Point72 Asset Management L.P. grew its stake in Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the period. Finally, Primecap Management Co. CA grew its stake in Performance Food Group by 223.4% during the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after buying an additional 1,122,676 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PFGC. UBS Group lifted their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets boosted their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Truist Financial increased their price objective on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.50.

Insider Buying and Selling

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the transaction, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,500 shares of company stock worth $7,426,075. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Stock Performance

Performance Food Group stock opened at $85.96 on Friday. Performance Food Group has a 52 week low of $59.35 and a 52 week high of $89.00. The company has a current ratio of 1.70, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The stock has a market cap of $13.40 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44. The stock has a 50 day moving average of $78.82 and a 200-day moving average of $72.15.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 earnings per share. On average, analysts expect that Performance Food Group will post 4.84 EPS 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.