Dimensional Fund Advisors LP Purchases 469,500 Shares of Performance Food Group (NYSE:PFGC)

Dimensional Fund Advisors LP lifted its position in Performance Food Group (NYSE:PFGC) by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,150,291 shares of the food distribution company’s stock after buying an additional 469,500 shares during the quarter. Dimensional Fund Advisors LP owned about 1.38% of Performance Food Group worth $142,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its stake in Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after purchasing an additional 1,770,683 shares in the last quarter. Norges Bank bought a new stake in shares of Performance Food Group during the fourth quarter worth about $119,726,000. Wellington Management Group LLP grew its holdings in shares of Performance Food Group by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after purchasing an additional 397,114 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in Performance Food Group in the fourth quarter valued at approximately $11,410,000. Finally, Primecap Management Co. CA bought a new stake in Performance Food Group in the fourth quarter valued at approximately $11,230,000. 96.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PFGC shares. BMO Capital Markets boosted their price target on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Truist Financial increased their price target on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays upped their price objective on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus target price of $86.38.

Performance Food Group Stock Down 0.0 %

Shares of NYSE:PFGC opened at $77.01 on Friday. The stock has a fifty day simple moving average of $70.38 and a two-hundred day simple moving average of $70.28. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 0.82 and a beta of 1.44. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. On average, research analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group 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 directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the transaction, the director now owns 10,184 shares in the company, valued at $749,644.24. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 over the last 90 days. 2.60% of the stock is owned by insiders.

Performance Food Group 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.