American Century Companies Inc. Raises Position in Performance Food Group (NYSE:PFGC)

American Century Companies Inc. grew its position in Performance Food Group (NYSE:PFGC) by 12.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 138,071 shares of the food distribution company’s stock after buying an additional 15,447 shares during the period. American Century Companies Inc. owned approximately 0.09% of Performance Food Group worth $9,128,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Performance Food Group in the first quarter worth approximately $29,000. Innealta Capital LLC bought a new position in Performance Food Group during the second quarter valued at approximately $30,000. Mather Group LLC. bought a new position in Performance Food Group during the first quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in Performance Food Group by 65.2% during the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 349 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Performance Food Group during the second quarter valued at approximately $105,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Scott E. Mcpherson sold 25,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the transaction, the insider now owns 149,863 shares in the company, valued at $11,185,774.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by insiders.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $77.01 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a fifty day moving average price of $70.38 and a 200-day moving average price of $70.24. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The stock has a market cap of $11.98 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Performance Food Group’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PFGC shares. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Jefferies Financial Group upped their target price on shares of Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Truist Financial upped their target price 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.38.

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.