Sanctuary Advisors LLC Acquires New Position in Performance Food Group (NYSE:PFGC)

Sanctuary Advisors LLC bought a new stake in Performance Food Group (NYSE:PFGC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,534 shares of the food distribution company’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. New Century Financial Group LLC acquired a new stake in Performance Food Group in the second quarter valued at approximately $239,000. Cetera Investment Advisers lifted its stake in Performance Food Group by 0.4% in the second quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock valued at $3,044,000 after acquiring an additional 186 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after acquiring an additional 372,218 shares during the last quarter. Quarry LP lifted its stake in Performance Food Group by 114.4% in the second quarter. Quarry LP now owns 2,513 shares of the food distribution company’s stock valued at $166,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Performance Food Group by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock valued at $469,000 after acquiring an additional 160 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PFGC. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Barclays boosted their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Truist Financial boosted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $87.63.

Performance Food Group Trading Up 0.1 %

Shares of PFGC stock opened at $83.24 on Friday. Performance Food Group has a 1 year low of $54.71 and a 1 year high of $83.70. The firm’s fifty day simple moving average is $75.91 and its 200 day simple moving average is $70.84. The firm has a market capitalization of $12.95 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. 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 announced its quarterly earnings results 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 firm had revenue of $15.20 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. As a group, sell-side analysts predict that Performance Food Group will post 4.88 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction on 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 sale, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the sale, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $4,669,155.00. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock valued at $7,426,075 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.