4,108 Shares in Performance Food Group (NYSE:PFGC) Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. acquired a new stake in Performance Food Group (NYSE:PFGC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,108 shares of the food distribution company’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rise Advisors LLC bought a new position in Performance Food Group during the 1st quarter valued at about $29,000. Mather Group LLC. bought a new position in shares of Performance Food Group during the first quarter valued at approximately $44,000. GAMMA Investing LLC raised its holdings in shares of Performance Food Group by 65.2% in the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after buying an additional 349 shares during the period. Principal Securities Inc. bought a new stake in shares of Performance Food Group during the 4th quarter worth approximately $87,000. Finally, Spire Wealth Management lifted its stake in shares of Performance Food Group by 32.2% during the 1st quarter. Spire Wealth Management now owns 1,582 shares of the food distribution company’s stock worth $118,000 after acquiring an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFGC shares. Jefferies Financial Group increased their target price on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets raised their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price target on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus target price of $86.38.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $73.15 on Thursday. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 0.82 and a beta of 1.44. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $68.08 and its 200 day moving average is $70.46.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. On average, sell-side analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the transaction, the insider now owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,500 shares of company stock valued at $7,426,075. 2.60% of the stock is currently owned by insiders.

Performance Food Group 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.