Fmr LLC Increases Stake in Performance Food Group (NYSE:PFGC)

Fmr LLC increased its holdings in Performance Food Group (NYSE:PFGC) by 26.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,312,402 shares of the food distribution company’s stock after purchasing an additional 2,773,547 shares during the quarter. Fmr LLC owned 8.54% of Performance Food Group worth $1,043,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its stake in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after buying an additional 1,122,676 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Performance Food Group by 27.8% during 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. Assenagon Asset Management S.A. boosted its holdings in shares of Performance Food Group by 166.1% during the third quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock worth $21,588,000 after purchasing an additional 171,953 shares during the period. Finally, Eminence Capital LP grew its stake in shares of Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after purchasing an additional 164,472 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. This trade represents a 4.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by company insiders.

Performance Food Group Trading Down 0.2 %

NYSE PFGC opened at $87.91 on Thursday. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $89.73. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The stock’s fifty day moving average price is $82.09 and its 200-day moving average price is $73.69. The stock has a market cap of $13.70 billion, a P/E ratio of 32.44, a P/E/G ratio of 0.96 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. As a group, equities analysts forecast that Performance Food Group will post 4.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Guggenheim increased their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays raised their price target on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. Jefferies Financial Group lifted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial increased their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.27.

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.