Raymond James Financial Inc. Takes Position in Performance Food Group (NYSE:PFGC)

Raymond James Financial Inc. acquired a new stake in Performance Food Group (NYSE:PFGC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 199,057 shares of the food distribution company’s stock, valued at approximately $16,830,000. Raymond James Financial Inc. owned approximately 0.13% of Performance Food Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PFGC. FMR LLC lifted its position in shares of Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock valued at $1,043,293,000 after acquiring an additional 2,773,547 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after acquiring an additional 2,371,818 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Performance Food Group by 32.0% in the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after acquiring an additional 724,094 shares in the last quarter. Primecap Management Co. CA lifted its position in Performance Food Group by 29.1% during the third quarter. Primecap Management Co. CA now owns 2,098,330 shares of the food distribution company’s stock worth $164,446,000 after buying an additional 473,050 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after buying an additional 401,235 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. This trade represents a 10.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $77.02 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The firm has a market capitalization of $12.03 billion, a PE ratio of 31.06, a P/E/G ratio of 0.96 and a beta of 1.40. The business has a 50-day moving average of $84.87 and a two-hundred day moving average of $83.12.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (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%. As a group, research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

PFGC has been the topic of several recent analyst reports. Melius Research upgraded Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler downgraded Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Barclays reduced 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. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Melius began 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. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.73.

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.