Thrivent Financial for Lutherans Reduces Holdings in Performance Food Group (NYSE:PFGC)

Thrivent Financial for Lutherans lowered its holdings in shares of Performance Food Group (NYSE:PFGC) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,611 shares of the food distribution company’s stock after selling 987 shares during the period. Thrivent Financial for Lutherans’ holdings in Performance Food Group were worth $2,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after buying an additional 242 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Performance Food Group in the 3rd quarter worth approximately $26,000. Innealta Capital LLC purchased a new stake in Performance Food Group in the 2nd quarter worth approximately $30,000. Venturi Wealth Management LLC raised its holdings in Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock valued at $32,000 after acquiring an additional 274 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Performance Food Group by 414.8% during the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PFGC. Deutsche Bank Aktiengesellschaft increased their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Truist Financial increased their price objective on shares of Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BMO Capital Markets boosted their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group increased 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 note on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average price target of $94.27.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’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 owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 4.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $88.08 on Wednesday. The stock’s fifty day simple moving average is $81.84 and its 200-day simple moving average is $73.59. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $89.73.

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

Performance Food Group Company 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.