Fmr LLC Raises Stock Position in Performance Food Group (NYSE:PFGC)

Fmr LLC raised its stake in shares of Performance Food Group (NYSE:PFGC) by 26.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,312,402 shares of the food distribution company’s stock after buying an additional 2,773,547 shares during the period. Fmr LLC owned about 0.09% of Performance Food Group worth $1,043,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after buying an additional 242 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Performance Food Group in the third quarter worth approximately $26,000. Innealta Capital LLC purchased a new position in shares of Performance Food Group during the 2nd quarter worth $30,000. Venturi Wealth Management LLC increased its stake in shares of Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after purchasing an additional 274 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after purchasing an additional 365 shares during the period. 96.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PFGC. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Guggenheim increased their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. Piper Sandler increased their price objective on shares of Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.27.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. This trade represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Performance Food Group Stock Down 0.2 %

PFGC opened at $87.91 on Thursday. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $89.73. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm has a 50-day simple moving average of $82.09 and a two-hundred day simple moving average of $73.69. The company has a market capitalization of $13.70 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. During the same period in the previous year, the company posted $1.15 earnings per share. Performance Food Group’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts forecast that Performance Food Group will post 4.73 earnings per share 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.