UMB Bank n.a. Boosts Stake in Performance Food Group (NYSE:PFGC)

UMB Bank n.a. lifted its stake in Performance Food Group (NYSE:PFGC) by 52.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169 shares of the food distribution company’s stock after purchasing an additional 403 shares during the period. UMB Bank n.a.’s holdings in Performance Food Group were worth $92,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its holdings in Performance Food Group by 0.7% in the 4th quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company’s stock worth $1,849,809,000 after buying an additional 157,987 shares during the period. FMR LLC boosted its holdings in Performance Food Group by 0.6% in the 4th quarter. FMR LLC now owns 13,391,257 shares of the food distribution company’s stock worth $1,132,231,000 after buying an additional 78,855 shares during the period. Victory Capital Management Inc. boosted its holdings in Performance Food Group by 154.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after buying an additional 2,371,818 shares during the period. Wellington Management Group LLP boosted its holdings in Performance Food Group by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company’s stock worth $330,560,000 after buying an additional 147,080 shares during the period. Finally, Eminence Capital LP boosted its holdings in Performance Food Group by 3.2% in the 4th quarter. Eminence Capital LP now owns 2,579,368 shares of the food distribution company’s stock worth $218,086,000 after buying an additional 79,591 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Donald S. Bulmer sold 2,404 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the completion of the sale, the insider now directly owns 51,350 shares in the company, valued at $4,621,500. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 14,285 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total transaction of $1,195,654.50. Following the completion of the sale, the insider now owns 138,008 shares of the company’s stock, valued at approximately $11,551,269.60. This trade represents a 9.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,972 shares of company stock valued at $5,964,073. 2.80% of the stock is currently owned by company insiders.

Performance Food Group Stock Up 1.0%

Shares of NYSE:PFGC opened at $87.53 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 0.96 and a beta of 1.18. The company has a 50-day moving average price of $82.84 and a 200 day moving average price of $83.75.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $15.41 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PFGC shares. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an “overweight” rating in a report on Thursday, May 29th. Morgan Stanley upped their target price on shares of Performance Food Group from $92.00 to $93.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Citigroup assumed coverage on shares of Performance Food Group in a report on Thursday, May 22nd. They set a “buy” rating and a $121.00 price objective for the company. UBS Group increased their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Finally, Truist Financial dropped their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.08.

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.