Raymond James & Associates Reduces Position in Performance Food Group (NYSE:PFGC)

Raymond James & Associates decreased its position in Performance Food Group (NYSE:PFGC) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,843 shares of the food distribution company’s stock after selling 11,099 shares during the period. Raymond James & Associates owned approximately 0.12% of Performance Food Group worth $12,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Performance Food Group by 6,612.2% in the fourth quarter. International Assets Investment Management LLC now owns 116,725 shares of the food distribution company’s stock valued at $8,072,000 after purchasing an additional 114,986 shares during the period. Signaturefd LLC increased its holdings in Performance Food Group by 38.8% in the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after buying an additional 143 shares during the period. GAMMA Investing LLC purchased a new position in Performance Food Group during the 4th quarter worth approximately $29,000. Headlands Technologies LLC purchased a new stake in shares of Performance Food Group in the 4th quarter valued at $48,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Performance Food Group in the fourth quarter worth $234,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Activity 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 sale, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the 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 completion of the sale, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value 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. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PFGC shares. BMO Capital Markets lifted their price objective 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. Wells Fargo & Company boosted their price target on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a 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 stock a “buy” rating in a research report on Thursday, August 15th. Truist Financial lifted their target price on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group increased their price target on shares of Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $86.38.

Performance Food Group Stock Up 1.6 %

PFGC stock opened at $74.71 on Friday. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The firm has a 50-day simple moving average of $67.09 and a 200-day simple moving average of $70.37. The stock has a market capitalization of $11.63 billion, a P/E ratio of 27.88, a P/E/G ratio of 0.92 and a beta of 1.42.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. Performance Food Group’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. Equities analysts forecast that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

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.