NorthCrest Asset Manangement LLC purchased a new position in Performance Food Group Company (NYSE:PFGC – Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,932 shares of the food distribution company’s stock, valued at approximately $657,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Performance Food Group during the second quarter valued at approximately $1,576,983,000. Primecap Management Co. CA acquired a new stake in Performance Food Group in the second quarter worth approximately $305,064,000. Dimensional Fund Advisors LP lifted its position in Performance Food Group by 32.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,514,963 shares of the food distribution company’s stock worth $215,418,000 after purchasing an additional 619,572 shares during the period. Bank of New York Mellon Corp bought a new position in Performance Food Group during the 2nd quarter valued at $105,756,000. Finally, TimesSquare Capital Management LLC bought a new position in Performance Food Group during the 2nd quarter valued at $94,236,000. 96.87% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on PFGC shares. Citigroup lifted their price target on Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. TD Cowen cut their price objective on Performance Food Group from $115.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company raised their target price on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, Guggenheim lifted their target price on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.40.
Read Our Latest Research Report on PFGC
Insider Activity at Performance Food Group
In related news, insider Chasity D. Grosh sold 1,005 shares of Performance Food Group stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $92.40, for a total value of $92,862.00. Following the transaction, the insider directly owned 5,783 shares in the company, valued at $534,349.20. The trade was a 14.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald S. Bulmer sold 1,353 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total value of $142,457.37. Following the sale, the insider directly owned 52,938 shares in the company, valued at $5,573,842.02. This trade represents a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,459 shares of company stock worth $4,317,917. 4.50% of the stock is owned by corporate insiders.
Performance Food Group Price Performance
Shares of NYSE PFGC traded up $0.44 during midday trading on Friday, reaching $97.75. The company’s stock had a trading volume of 1,482,766 shares, compared to its average volume of 1,402,160. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.87. The company has a 50 day moving average price of $97.66 and a 200 day moving average price of $99.44. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34.
Performance Food Group (NYSE:PFGC – Get Free Report) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The business had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. On average, equities research analysts expect that Performance Food Group Company will post 5.60 EPS for the current year.
Performance Food Group Company Profile
Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.
PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.
Featured Articles
- Five stocks we like better than Performance Food Group
- Does the AI Selloff Put Alphabet’s Breakout in Doubt?
- Bank Earnings Are Mixed—These 2 ETFs Offer Very Different Paths to a Recovery
- 3 Stocks Delivering Bigger Dividends Despite Market Uncertainty
- MarketBeat Week in Review – 10/12 – 10/16
Want to see what other hedge funds are holding PFGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Performance Food Group Company (NYSE:PFGC – Free Report).
Receive News & Ratings for Performance Food Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performance Food Group and related companies with MarketBeat.com's FREE daily email newsletter.
