People s United Financial Inc. Purchases 1,053 Shares of Performance Food Group (NYSE:PFGC)

People s United Financial Inc. raised its position in shares of Performance Food Group (NYSE:PFGC) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,855 shares of the food distribution company’s stock after acquiring an additional 1,053 shares during the period. People s United Financial Inc.’s holdings in Performance Food Group were worth $575,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Performance Food Group by 9.0% during the first quarter. BlackRock Inc. now owns 10,624,423 shares of the food distribution company’s stock worth $612,073,000 after acquiring an additional 880,931 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Performance Food Group by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 8,917,110 shares of the food distribution company’s stock valued at $513,714,000 after buying an additional 502,399 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Performance Food Group by 20.0% in the second quarter. Victory Capital Management Inc. now owns 3,394,256 shares of the food distribution company’s stock valued at $164,588,000 after buying an additional 564,620 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Performance Food Group by 0.5% in the first quarter. Clearbridge Investments LLC now owns 2,973,668 shares of the food distribution company’s stock valued at $171,313,000 after buying an additional 14,953 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Performance Food Group by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,719,885 shares of the food distribution company’s stock valued at $156,693,000 after buying an additional 263,717 shares during the period.

PFGC has been the subject of several recent research reports. Zacks Investment Research upgraded Performance Food Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Raymond James cut Performance Food Group from an “outperform” rating to a “market perform” rating in a research note on Friday, August 6th. Credit Suisse Group cut their price target on 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. BTIG Research cut Performance Food Group from a “buy” rating to a “neutral” rating in a research note on Friday, August 20th. Finally, UBS Group began coverage on Performance Food Group in a research note on Thursday, July 29th. They set a “buy” rating and a $62.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $61.44.

In related news, Director Matthew C. Flanigan acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The stock was acquired at an average cost of $44.71 per share, for a total transaction of $89,420.00. Following the completion of the acquisition, the director now directly owns 23,435 shares of the company’s stock, valued at approximately $1,047,778.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James D. Hope sold 32,177 shares of the stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $46.30, for a total value 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 disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

NYSE PFGC opened at $46.26 on Thursday. The business has a fifty day moving average price of $45.56 and a two-hundred day moving average price of $50.34. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.42 and a quick ratio of 0.69. Performance Food Group has a fifty-two week low of $31.69 and a fifty-two week high of $59.89. The stock has a market capitalization of $6.20 billion, a PE ratio of 159.52 and a beta of 1.71.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 18th. The food distribution company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.78 billion. Performance Food Group had a net margin of 0.13% and a return on equity of 8.82%. The company’s revenue for the quarter was up 61.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.86) earnings per share. As a group, sell-side analysts expect that Performance Food Group will post 2.23 earnings per share for the current year.

Performance Food Group Profile

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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