CIBC Asset Management Inc Acquires 139 Shares of Performance Food Group (NYSE:PFGC)

CIBC Asset Management Inc increased its position in shares of Performance Food Group (NYSE:PFGC) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,514 shares of the food distribution company’s stock after buying an additional 139 shares during the quarter. CIBC Asset Management Inc’s holdings in Performance Food Group were worth $354,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Eminence Capital LP lifted its position in shares of Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after buying an additional 164,472 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings 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 acquiring an additional 372,218 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Performance Food Group by 223.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after buying an additional 1,122,676 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Performance Food Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company’s stock worth $83,214,000 after buying an additional 15,981 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Up 2.8 %

Shares of NYSE:PFGC opened at $86.39 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The stock’s 50-day moving average price is $81.05 and its 200-day moving average price is $73.17. The stock has a market capitalization of $13.46 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. Performance Food Group has a 12-month low of $61.59 and a 12-month high of $89.00.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, equities analysts anticipate that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In other 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 value of $596,480.00. Following the sale, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The trade was a 4.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company upped their price objective 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. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group presently has a consensus 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.