Performance Food Group Company (NYSE:PFGC) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC raised its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 196.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,789 shares of the food distribution company's stock after purchasing an additional 115,818 shares during the period. Cerity Partners LLC owned 0.11% of Performance Food Group worth $13,744,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PFGC. Proficio Capital Partners LLC purchased a new position in Performance Food Group in the fourth quarter valued at approximately $2,087,000. Raymond James Financial Inc. purchased a new position in Performance Food Group in the fourth quarter valued at approximately $16,830,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Performance Food Group by 17.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,192 shares of the food distribution company's stock valued at $3,398,000 after purchasing an additional 6,085 shares during the last quarter. HighTower Advisors LLC increased its stake in Performance Food Group by 11.9% in the fourth quarter. HighTower Advisors LLC now owns 9,047 shares of the food distribution company's stock valued at $765,000 after purchasing an additional 965 shares during the last quarter. Finally, Swiss National Bank increased its stake in Performance Food Group by 0.9% in the fourth quarter. Swiss National Bank now owns 306,560 shares of the food distribution company's stock valued at $25,920,000 after purchasing an additional 2,800 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PFGC. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Morgan Stanley raised their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday. Barclays raised their target price on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Truist Financial lowered their target price on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup began coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 target price on the stock. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Performance Food Group Stock Performance

Shares of NYSE PFGC traded down $0.73 during mid-day trading on Thursday, hitting $99.18. 2,769,996 shares of the company were exchanged, compared to its average volume of 1,139,539. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The stock has a 50 day simple moving average of $88.36 and a 200-day simple moving average of $84.12. Performance Food Group Company has a 1-year low of $63.24 and a 1-year high of $100.26. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $15.41 billion. During the same period last year, the business posted $0.80 EPS. Performance Food Group's revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Craig Howard Hoskins sold 14,285 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the sale, the insider owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider A Brent King sold 7,865 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $95.00, for a total value of $747,175.00. Following the completion of the sale, the insider directly owned 61,083 shares of the company's stock, valued at approximately $5,802,885. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,837 shares of company stock valued at $6,901,248 in the last quarter. Corporate insiders own 2.80% of the company's stock.

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.