Performance Food Group Company $PFGC Stock Acquired by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its PFGC position by 330.2% in the third quarter, adding 9,814 shares to hold 12,786 shares valued at about $1.21 million.
• Performance Food Group reported quarterly EPS of $1.32, beating the $1.27 consensus estimate; revenue was $18.02 billion, up 5.5% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $128.40. Insiders sold 41,459 shares worth approximately $4.32 million over the prior 90 days.

Chicago Partners Investment Group LLC raised its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 330.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,786 shares of the food distribution company's stock after purchasing an additional 9,814 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Performance Food Group were worth $1,211,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Performance Food Group during the third quarter worth about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Performance Food Group in the second quarter valued at approximately $51,000. Transamerica Financial Advisors LLC acquired a new position in shares of Performance Food Group in the second quarter valued at approximately $54,000. Covestor Ltd raised its holdings in Performance Food Group by 526.6% in the 3rd quarter. Covestor Ltd now owns 495 shares of the food distribution company's stock valued at $45,000 after buying an additional 416 shares during the last quarter. Finally, Field & Main Bank bought a new position in Performance Food Group in the 2nd quarter valued at approximately $56,000. 96.87% of the stock is currently owned by institutional investors.

Insider Activity at Performance Food Group

In related news, insider Erika T. Davis sold 8,008 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total value of $834,513.68. Following the transaction, the insider owned 43,986 shares of the company's stock, valued at $4,583,781.06. This represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald S. Bulmer sold 10,535 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $105.90, for a total value of $1,115,656.50. Following the transaction, the insider owned 54,291 shares in the company, valued at $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,459 shares of company stock worth $4,317,917 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Performance Food Group Price Performance

PFGC opened at $111.99 on Tuesday. The stock has a fifty day simple moving average of $96.06 and a two-hundred day simple moving average of $97.73. 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 cap of $17.64 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91. The company has a current ratio of 1.61, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The food distribution company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. Performance Food Group had a net margin of 0.57% and a return on equity of 15.25%. The business had revenue of $18.02 billion for the quarter, compared to analysts' expectations of $18.02 billion. During the same quarter last year, the company posted $0.60 EPS. The company's revenue was up 5.5% compared to the same quarter last year. Research analysts predict that Performance Food Group Company will post 5.60 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PFGC has been the topic of a number of research reports. Weiss Ratings lowered shares of Performance Food Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Wells Fargo & Company raised their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. TD Cowen lifted their price target on shares of Performance Food Group from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $133.00 price objective on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, Morgan Stanley raised their price objective on Performance Food Group from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.40.

Performance Food Group Company Profile

Performance Food Group Company is a foodservice and convenience-store distributor headquartered in Richmond, Virginia. Through its distribution network, the company supplies food and related products to restaurants, schools, healthcare facilities, businesses, and other institutions, as well as convenience retailers.

Its offerings include fresh and frozen foods, dry groceries, beverages, snacks, and disposables and other operating supplies. The company operates through businesses including Performance Foodservice, Vistar, and Core-Mark, which serve different customer segments and provide distribution and related services.

Performance Food Group traces its roots to 1885 and serves customers across the United States and Canada.

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