Xponance Inc. Lowers Stock Holdings in Performance Food Group (NYSE:PFGC)

Xponance Inc. decreased its position in Performance Food Group (NYSE:PFGC) by 25.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,687 shares of the food distribution company’s stock after selling 6,242 shares during the quarter. Xponance Inc.’s holdings in Performance Food Group were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC boosted its holdings in Performance Food Group by 47.1% during the 4th quarter. Corient Private Wealth LLC now owns 36,333 shares of the food distribution company’s stock valued at $2,512,000 after acquiring an additional 11,626 shares during the period. Advisory Services Network LLC lifted its position in Performance Food Group by 10.7% in the fourth quarter. Advisory Services Network LLC now owns 6,181 shares of the food distribution company’s stock valued at $427,000 after purchasing an additional 598 shares during the last quarter. TFO Wealth Partners LLC lifted its position in Performance Food Group by 46,780.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,688 shares of the food distribution company’s stock valued at $324,000 after purchasing an additional 4,678 shares during the last quarter. KBC Group NV bought a new stake in Performance Food Group in the fourth quarter valued at approximately $193,000. Finally, First Trust Advisors LP lifted its position in Performance Food Group by 5.8% in the fourth quarter. First Trust Advisors LP now owns 398,911 shares of the food distribution company’s stock valued at $27,585,000 after purchasing an additional 21,786 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In related news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the transaction, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by corporate insiders.

Performance Food Group Price Performance

PFGC opened at $78.23 on Friday. The stock has a fifty day simple moving average of $71.39 and a two-hundred day simple moving average of $70.36. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $79.59.

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

Analysts Set New Price Targets

Several brokerages have weighed in on PFGC. Truist Financial boosted their price objective on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Morgan Stanley lowered their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Barclays upped their target price on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

About Performance Food Group

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.