Motley Fool Asset Management LLC Takes Position in Performance Food Group Company (NYSE:PFGC)

Key Points

• Motley Fool Asset Management LLC acquired a new stake in Performance Food Group Company, purchasing 14,792 shares valued at approximately $1,163,000 during the first quarter.
• Insider sales occurred recently, with Hugh Patrick Hatcher selling 2,000 shares and Craig Howard Hoskins selling 19,113 shares of the company's stock, indicating notable insider transaction activity.
• Wall Street analysts have mixed ratings for Performance Food Group, with a consensus rating of "Moderate Buy" and a price target averaging $100.31.

Motley Fool Asset Management LLC bought a new stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,792 shares of the food distribution company's stock, valued at approximately $1,163,000.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Performance Food Group by 59.3% during the 1st quarter. Victory Capital Management Inc. now owns 6,229,169 shares of the food distribution company's stock valued at $489,800,000 after purchasing an additional 2,318,763 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Performance Food Group by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 5,187,869 shares of the food distribution company's stock worth $407,922,000 after buying an additional 1,503,703 shares during the period. Junto Capital Management LP lifted its position in Performance Food Group by 419.9% during the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company's stock valued at $118,884,000 after purchasing an additional 1,135,641 shares during the period. Nuveen LLC acquired a new position in Performance Food Group during the first quarter valued at $69,456,000. Finally, Point72 Asset Management L.P. grew its position in Performance Food Group by 30.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company's stock valued at $178,506,000 after buying an additional 498,554 shares during the period. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of PFGC traded down $2.75 during trading hours on Friday, reaching $98.00. The company had a trading volume of 2,193,080 shares, compared to its average volume of 1,338,459. The firm has a 50 day simple moving average of $93.18 and a 200-day simple moving average of $85.89. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $15.30 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 1.40 and a beta of 1.20. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $103.50.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $16.94 billion for the quarter, compared to analysts' expectations of $16.85 billion. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. Research analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In other news, insider Craig Howard Hoskins sold 14,285 shares of the company's stock in a transaction dated 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 transaction, the insider owned 138,008 shares in the company, valued at approximately $11,551,269.60. This 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 is accessible through the SEC website. Also, insider Erika T. Davis sold 8,200 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the sale, the insider directly owned 46,722 shares of the company's stock, valued at $4,191,897.84. The trade was a 14.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,059 shares of company stock valued at $5,861,405. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PFGC. Wells Fargo & Company set a $115.00 price objective on shares of Performance Food Group and gave the company an "overweight" rating in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Truist Financial lifted their target price on shares of Performance Food Group from $101.00 to $118.00 and gave the company a "buy" rating in a report on Thursday. 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 note on Thursday, May 29th. Finally, UBS Group restated a "buy" rating and issued a $120.00 target price (up previously from $110.00) on shares of Performance Food Group in a report on Thursday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $105.08.

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.