Performance Food Group (NYSE:PFGC) Shares Purchased by Highland Capital Management LLC

Highland Capital Management LLC raised its holdings in Performance Food Group (NYSE:PFGC) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,915 shares of the food distribution company’s stock after purchasing an additional 183 shares during the period. Highland Capital Management LLC’s holdings in Performance Food Group were worth $246,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Planning grew its holdings in Performance Food Group by 102.7% during the 2nd quarter. Creative Planning now owns 11,544 shares of the food distribution company’s stock valued at $763,000 after buying an additional 5,849 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Performance Food Group by 2.3% during 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. Cetera Investment Advisers increased its position in Performance Food Group by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after purchasing an additional 186 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Performance Food Group in the 2nd quarter valued at about $243,000. Finally, GAMMA Investing LLC boosted its stake in shares of Performance Food Group by 30.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,157 shares of the food distribution company’s stock worth $91,000 after purchasing an additional 273 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Price Performance

PFGC opened at $90.38 on Friday. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The company has a 50 day moving average of $87.20 and a two-hundred day moving average of $79.70. The company has a market cap of $14.08 billion, a P/E ratio of 33.35, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results 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). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. During the same period last year, the company posted $1.15 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Performance Food Group will post 4.74 earnings per share for the current year.

Analysts Set New Price Targets

PFGC has been the topic of several recent analyst reports. Melius Research raised shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler lifted their price objective on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. UBS Group raised their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Guggenheim upped 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 note on Thursday, November 7th. Finally, Barclays raised their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $94.67.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the sale, the insider now directly owns 172,372 shares of the company’s stock, valued at approximately $14,582,671.20. This trade represents a 10.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

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.