Fifth Third Bancorp Raises Holdings in Performance Food Group Company (NYSE:PFGC)

Fifth Third Bancorp grew its position in shares of Performance Food Group Company (NYSE:PFGC) by 26.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,144 shares of the food distribution company’s stock after purchasing an additional 237 shares during the period. Fifth Third Bancorp’s holdings in Performance Food Group were worth $90,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Performance Food Group by 746.2% during the first quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company’s stock valued at $879,000 after purchasing an additional 9,857 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Performance Food Group during the fourth quarter valued at about $2,087,000. KLP Kapitalforvaltning AS purchased a new position in shares of Performance Food Group during the fourth quarter valued at about $3,697,000. Charles Schwab Investment Management Inc. grew its position in shares of Performance Food Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,325 shares of the food distribution company’s stock valued at $103,263,000 after purchasing an additional 26,925 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of Performance Food Group by 37.1% during the fourth quarter. LPL Financial LLC now owns 93,183 shares of the food distribution company’s stock valued at $7,992,000 after purchasing an additional 25,192 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 1.1%

Shares of NYSE:PFGC opened at $85.95 on Friday. Performance Food Group Company has a 1 year low of $61.60 and a 1 year high of $92.44. The business has a 50 day simple moving average of $84.12 and a two-hundred day simple moving average of $83.66. The firm has a market capitalization of $13.42 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.61 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $15.41 billion. During the same quarter last year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In other news, insider Craig Howard Hoskins sold 14,285 shares of Performance Food Group 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. The trade was a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider A Brent King sold 11,104 shares of Performance Food Group stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $88.69, for a total transaction of $984,813.76. Following the sale, the insider now directly owns 65,952 shares of the company’s stock, valued at $5,849,282.88. This represents a 14.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,972 shares of company stock worth $5,964,073 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

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