Raymond James & Associates Grows Holdings in Performance Food Group (NYSE:PFGC)

Raymond James & Associates grew its holdings in shares of Performance Food Group (NYSE:PFGC) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,233 shares of the food distribution company’s stock after acquiring an additional 3,390 shares during the period. Raymond James & Associates’ holdings in Performance Food Group were worth $14,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors raised its holdings in Performance Food Group by 0.5% in the first quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock valued at $1,606,782,000 after acquiring an additional 100,244 shares in the last quarter. Eminence Capital LP raised its stake in shares of Performance Food Group by 7.4% in the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after purchasing an additional 164,472 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Performance Food Group by 2.5% during the first quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock worth $175,383,000 after purchasing an additional 56,242 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Performance Food Group by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after purchasing an additional 469,500 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after purchasing an additional 372,218 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Trading Up 0.8 %

Shares of NYSE:PFGC opened at $82.55 on Friday. 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 price is $77.10 and its 200 day moving average price is $71.23. The company has a market cap of $12.87 billion, a PE ratio of 29.59, a P/E/G ratio of 0.83 and a beta of 1.45. Performance Food Group has a fifty-two week low of $54.71 and a fifty-two week high of $83.70.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Performance Food Group will post 4.88 earnings per share for the current year.

Insider Transactions at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,500 shares of company stock valued at $7,426,075. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of research analyst reports. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Truist Financial lifted their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays increased their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. One investment 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.88.

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.