AMI Asset Management Corp Sells 80,678 Shares of Performance Food Group Co (PFGC)

AMI Asset Management Corp trimmed its holdings in shares of Performance Food Group Co (NYSE:PFGC) by 20.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 307,986 shares of the food distribution company’s stock after selling 80,678 shares during the quarter. AMI Asset Management Corp’s holdings in Performance Food Group were worth $12,209,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Performance Food Group by 4.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,158,083 shares of the food distribution company’s stock worth $271,664,000 after purchasing an additional 356,243 shares during the period. Bank of New York Mellon Corp boosted its position in Performance Food Group by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 903,488 shares of the food distribution company’s stock worth $30,087,000 after purchasing an additional 6,387 shares during the period. Martingale Asset Management L P boosted its position in Performance Food Group by 9.4% during the 3rd quarter. Martingale Asset Management L P now owns 178,571 shares of the food distribution company’s stock worth $5,947,000 after purchasing an additional 15,324 shares during the period. Standard Life Aberdeen plc boosted its position in Performance Food Group by 44.5% during the 3rd quarter. Standard Life Aberdeen plc now owns 13,957 shares of the food distribution company’s stock worth $465,000 after purchasing an additional 4,297 shares during the period. Finally, United Services Automobile Association boosted its position in Performance Food Group by 15.4% during the 3rd quarter. United Services Automobile Association now owns 15,501 shares of the food distribution company’s stock worth $516,000 after purchasing an additional 2,068 shares during the period. 96.82% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PFGC opened at $40.92 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.57 and a quick ratio of 0.79. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.94 and a beta of 0.70. Performance Food Group Co has a 1-year low of $28.05 and a 1-year high of $41.85.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 6th. The food distribution company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Performance Food Group had a net margin of 0.94% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. As a group, sell-side analysts expect that Performance Food Group Co will post 1.81 earnings per share for the current fiscal year.

In other Performance Food Group news, insider Patrick T. Hagerty sold 7,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $39.71, for a total value of $277,970.00. Following the completion of the transaction, the insider now directly owns 169,456 shares of the company’s stock, valued at approximately $6,729,097.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig Howard Hoskins sold 10,709 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $39.86, for a total transaction of $426,860.74. Following the transaction, the insider now directly owns 97,529 shares in the company, valued at approximately $3,887,505.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,609 shares of company stock valued at $737,672. 3.80% of the stock is currently owned by corporate insiders.

PFGC has been the subject of a number of research reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Friday, January 11th. ValuEngine raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. Pivotal Research reaffirmed a “hold” rating and set a $37.00 price target on shares of Performance Food Group in a research report on Thursday, February 7th. Zacks Investment Research raised shares of Performance Food Group from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research report on Friday, February 8th. Finally, Bank of America initiated coverage on shares of Performance Food Group in a research report on Wednesday, April 17th. They set a “buy” rating and a $45.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.92.

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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 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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