Royal Bank of Canada Sells 19,821 Shares of Performance Food Group (NYSE:PFGC)

Royal Bank of Canada lessened its holdings in Performance Food Group (NYSE:PFGC) by 32.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,621 shares of the food distribution company’s stock after selling 19,821 shares during the quarter. Royal Bank of Canada’s holdings in Performance Food Group were worth $2,018,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Performance Food Group by 2.9% in the second quarter. Vanguard Group Inc. now owns 12,521,181 shares of the food distribution company’s stock valued at $607,152,000 after acquiring an additional 353,129 shares during the period. Clearbridge Investments LLC lifted its position in Performance Food Group by 20.2% during the second quarter. Clearbridge Investments LLC now owns 3,572,865 shares of the food distribution company’s stock worth $173,248,000 after purchasing an additional 599,197 shares during the period. Goldman Sachs Group Inc. lifted its position in Performance Food Group by 28.5% during the second quarter. Goldman Sachs Group Inc. now owns 3,495,957 shares of the food distribution company’s stock worth $169,519,000 after purchasing an additional 776,072 shares during the period. Victory Capital Management Inc. lifted its position in Performance Food Group by 20.0% during the second quarter. Victory Capital Management Inc. now owns 3,394,256 shares of the food distribution company’s stock worth $164,588,000 after purchasing an additional 564,620 shares during the period. Finally, Jennison Associates LLC lifted its position in Performance Food Group by 78.0% during the second quarter. Jennison Associates LLC now owns 2,662,670 shares of the food distribution company’s stock worth $129,113,000 after purchasing an additional 1,167,065 shares during the period. 92.51% of the stock is owned by institutional investors.

In other Performance Food Group news, insider Christine R. Vlahcevic sold 2,989 shares of the stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $50.06, for a total transaction of $149,629.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick T. Hagerty sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $49.17, for a total transaction of $491,700.00. The disclosure for this sale can be found here. Insiders sold 15,130 shares of company stock valued at $739,582 in the last ninety days. 2.60% of the stock is currently owned by insiders.

PFGC stock opened at $44.42 on Thursday. The business has a 50-day moving average of $46.53. Performance Food Group has a 12 month low of $41.12 and a 12 month high of $59.89. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.64 and a quick ratio of 0.69. The company has a market capitalization of $6.85 billion, a PE ratio of 134.61, a P/E/G ratio of 1.35 and a beta of 1.63.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 10th. The food distribution company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Performance Food Group had a return on equity of 8.96% and a net margin of 0.14%. During the same period in the prior year, the company earned $0.25 earnings per share. Sell-side analysts forecast that Performance Food Group will post 2.37 EPS for the current fiscal year.

Several equities research analysts recently weighed in on PFGC shares. Zacks Investment Research raised shares of Performance Food Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, November 16th. Credit Suisse Group upped their price objective on shares of Performance Food Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, November 11th. UBS Group started coverage on shares of Performance Food Group in a research report on Thursday, July 29th. They set a “buy” rating and a $62.00 price objective for the company. BTIG Research cut shares of Performance Food Group from a “buy” rating to a “neutral” rating in a report on Friday, August 20th. Finally, Raymond James cut shares of Performance Food Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $62.11.

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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