Raymond James & Associates Increases Holdings in Performance Food Group (NYSE:PFGC)

Raymond James & Associates increased its position in Performance Food Group (NYSE:PFGC) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,233 shares of the food distribution company’s stock after acquiring an additional 3,390 shares during the period. Raymond James & Associates owned approximately 0.12% of Performance Food Group worth $14,595,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC purchased a new position in shares of Performance Food Group in the first quarter valued at $449,000. Vaughan Nelson Investment Management L.P. raised its position in Performance Food Group by 34.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 388,712 shares of the food distribution company’s stock worth $29,013,000 after acquiring an additional 99,110 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Performance Food Group by 12.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company’s stock valued at $396,000 after purchasing an additional 584 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Performance Food Group by 2.4% in the first quarter. State of Michigan Retirement System now owns 38,203 shares of the food distribution company’s stock valued at $2,851,000 after purchasing an additional 900 shares during the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Performance Food Group during the 1st quarter worth approximately $208,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PFGC shares. Deutsche Bank Aktiengesellschaft increased their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays lifted their price objective on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Truist Financial lifted their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One equities research analyst has 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 an average rating of “Moderate Buy” and a consensus price target of $88.88.

Insider Transactions at Performance Food Group

In other news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock worth $7,426,075 in the last three months. 2.80% of the stock is currently owned by company insiders.

Performance Food Group Price Performance

PFGC opened at $82.55 on Friday. Performance Food Group has a 1 year low of $54.71 and a 1 year high of $83.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The company’s 50 day simple moving average is $77.10 and its 200 day simple moving average is $71.23. The stock has a market capitalization of $12.87 billion, a PE ratio of 29.59, a P/E/G ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. As a group, sell-side analysts expect that Performance Food Group will post 4.88 EPS for the current year.

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.