Krilogy Financial LLC Buys New Position in Performance Food Group Company $PFGC

Key Points

• Krilogy Financial initiated a position in Performance Food Group during the third quarter, purchasing 10,758 shares valued at approximately $1.02 million. Institutional investors collectively own 96.87% of the company.
• Performance Food Group’s shares recently traded at $97.75, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $126.40.
• The company narrowly missed quarterly earnings and revenue expectations, reporting $1.59 in EPS and $18.03 billion in revenue, although revenue increased 6.7% year over year. Insiders have sold approximately $4.32 million in stock over the past 90 days.

Krilogy Financial LLC bought a new stake in Performance Food Group Company (NYSE:PFGC - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,758 shares of the food distribution company's stock, valued at approximately $1,019,000.

Other institutional investors have also modified their holdings of the company. NorthCrest Asset Manangement LLC acquired a new stake in shares of Performance Food Group during the third quarter worth $657,000. Riversedge Advisors LLC acquired a new position in Performance Food Group in the 3rd quarter valued at $208,000. GAMMA Investing LLC increased its stake in Performance Food Group by 13.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,457 shares of the food distribution company's stock valued at $408,000 after buying an additional 544 shares during the period. Farther Finance Advisors LLC raised its position in Performance Food Group by 101.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,368 shares of the food distribution company's stock worth $217,000 after buying an additional 1,194 shares during the last quarter. Finally, First Community Trust NA raised its position in Performance Food Group by 20.4% during the 3rd quarter. First Community Trust NA now owns 15,609 shares of the food distribution company's stock worth $1,428,000 after buying an additional 2,643 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of Performance Food Group stock traded up $0.44 during trading on Friday, reaching $97.75. The company's stock had a trading volume of 1,482,766 shares, compared to its average volume of 1,402,160. The business has a 50 day moving average price of $97.66 and a 200-day moving average price of $99.44. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a market capitalization of $15.40 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.87. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). The business had revenue of $18.03 billion during the quarter, compared to analysts' expectations of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The company's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. As a group, sell-side analysts anticipate that Performance Food Group Company will post 5.60 EPS for the current year.

Insider Activity at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,005 shares of the company's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $92.40, for a total transaction of $92,862.00. Following the transaction, the insider directly owned 5,783 shares of the company's stock, valued at $534,349.20. This represents a 14.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Erika Davis sold 1,320 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the transaction, the insider directly owned 40,402 shares in the company, valued at approximately $4,253,926.58. This trade represents a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 41,459 shares of company stock worth $4,317,917. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Performance Food Group from $131.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday. BMO Capital Markets reiterated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Citigroup boosted their price target on shares of Performance Food Group from $143.00 to $144.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. TD Cowen cut their price target on shares of Performance Food Group from $115.00 to $110.00 and set a "buy" rating for the company in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $126.40.

Performance Food Group Company Profile

Performance Food Group Co NYSE: PFGC is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC's foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.

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