HB Wealth Management LLC Invests $261,000 in Performance Food Group Company (NYSE:PFGC)

Key Points

• HB Wealth Management LLC acquired a new stake in Performance Food Group, purchasing 3,322 shares valued at approximately $261,000 during the first quarter.
• Performance Food Group experienced a 10.5% year-over-year revenue increase, reporting $15.31 billion for the quarter, although it missed the consensus estimate.
• Multiple institutional investors increased their stakes in Performance Food Group, with 96.87% of the stock now owned by institutional holders, indicating strong institutional interest in the company.

HB Wealth Management LLC acquired a new position in Performance Food Group Company (NYSE:PFGC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,322 shares of the food distribution company's stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also modified their holdings of PFGC. CENTRAL TRUST Co lifted its stake in Performance Food Group by 476.5% in the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after buying an additional 405 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Performance Food Group by 203.7% during the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock worth $40,000 after buying an additional 334 shares during the last quarter. Signaturefd LLC increased its stake in Performance Food Group by 60.9% during the first quarter. Signaturefd LLC now owns 830 shares of the food distribution company's stock worth $65,000 after acquiring an additional 314 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Performance Food Group by 353.5% in the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock valued at $71,000 after buying an additional 707 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Performance Food Group by 34,133.3% in the 1st quarter. Versant Capital Management Inc now owns 1,027 shares of the food distribution company's stock worth $81,000 after acquiring an additional 1,024 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider A Brent King sold 12,866 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $90.02, for a total value of $1,158,197.32. Following the completion of the sale, the insider owned 60,952 shares in the company, valued at $5,486,899.04. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Howard Hoskins sold 19,113 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the completion of the sale, the insider owned 152,293 shares of the company's stock, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,172 shares of company stock valued at $7,534,748. 2.80% of the stock is currently owned by insiders.

Performance Food Group Stock Performance

PFGC stock traded up $0.44 on Wednesday, reaching $98.63. 950,881 shares of the company were exchanged, compared to its average volume of 1,266,812. The firm has a market capitalization of $15.39 billion, a PE ratio of 41.00, a PEG ratio of 1.38 and a beta of 1.20. Performance Food Group Company has a 12 month low of $64.15 and a 12 month high of $103.50. The stock's fifty day moving average price is $91.80 and its 200 day moving average price is $85.39. 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 - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 earnings per share. On average, research analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. UBS Group raised their target price on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Truist Financial reduced their price target on shares of 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. Citigroup started coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target for the company. Finally, Morgan Stanley raised their price target on Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $100.31.

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.