Charles Schwab Investment Management Inc. Boosts Holdings in Performance Food Group (NYSE:PFGC)

Charles Schwab Investment Management Inc. raised its holdings in shares of Performance Food Group (NYSE:PFGC) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,194,400 shares of the food distribution company’s stock after buying an additional 24,473 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of Performance Food Group worth $93,605,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Primecap Management Co. CA lifted its position in Performance Food Group by 223.4% during the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after purchasing an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Performance Food Group by 27.9% in 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 buying an additional 469,500 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after buying an additional 372,218 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Performance Food Group by 166.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock valued at $21,588,000 after acquiring an additional 171,953 shares during the period. Finally, Eminence Capital LP increased its holdings in 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 worth $158,572,000 after acquiring an additional 164,472 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Down 0.8 %

NYSE PFGC opened at $88.08 on Wednesday. The stock has a 50 day moving average price of $81.84 and a 200-day moving average price of $73.59. Performance Food Group has a one year low of $61.60 and a one year high of $89.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. The company has a market capitalization of $13.72 billion, a P/E ratio of 32.50, a P/E/G ratio of 0.94 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data 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). The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, equities analysts predict that Performance Food Group will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction 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 in the company, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PFGC shares. Jefferies Financial Group upped their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets increased their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research report on Monday, October 28th. Piper Sandler increased their target price on Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Truist Financial boosted their price target on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $94.27.

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.