Raymond James Financial Inc. Buys New Stake in Performance Food Group (NYSE:PFGC)

Raymond James Financial Inc. acquired a new position in Performance Food Group (NYSE:PFGC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 199,057 shares of the food distribution company’s stock, valued at approximately $16,830,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFGC. KBC Group NV raised its stake in shares of Performance Food Group by 20.4% in the 3rd quarter. KBC Group NV now owns 4,106 shares of the food distribution company’s stock worth $322,000 after buying an additional 695 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Performance Food Group by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock worth $354,000 after buying an additional 139 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Performance Food Group by 14.2% in the 3rd quarter. Natixis Advisors LLC now owns 221,544 shares of the food distribution company’s stock worth $17,363,000 after buying an additional 27,586 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Performance Food Group by 47.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 131,478 shares of the food distribution company’s stock worth $10,304,000 after buying an additional 42,383 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Performance Food Group by 19.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,961 shares of the food distribution company’s stock worth $467,000 after buying an additional 991 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $84.60, for a total value of $1,733,961.60. Following the transaction, the insider now owns 172,372 shares in the company, valued at $14,582,671.20. The trade was a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Melius started coverage on Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price on the stock. Morgan Stanley boosted their target price on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Barclays cut their target price on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Melius Research raised Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $77.02 on Tuesday. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 0.96 and a beta of 1.40. The stock’s fifty day simple moving average is $84.87 and its 200-day simple moving average is $83.12.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. On average, sell-side analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

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.