Performance Food Group Company (NYSE:PFGC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,229,169 shares of the food distribution company's stock after purchasing an additional 2,318,763 shares during the period. Performance Food Group comprises about 0.5% of Victory Capital Management Inc.'s holdings, making the stock its 24th largest holding. Victory Capital Management Inc. owned about 3.99% of Performance Food Group worth $489,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of Performance Food Group during the fourth quarter worth $26,000. CENTRAL TRUST Co grew its holdings in shares of Performance Food Group by 476.5% during the first 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 during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Performance Food Group by 203.7% during the first quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after purchasing an additional 334 shares in the last quarter. Signaturefd LLC lifted its position in shares of Performance Food Group by 60.9% during the first quarter. Signaturefd LLC now owns 830 shares of the food distribution company's stock valued at $65,000 after purchasing an additional 314 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Performance Food Group by 353.5% during the first quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock valued at $71,000 after purchasing an additional 707 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted 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 note on Monday, July 14th. Barclays boosted their price objective on shares of Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Wall Street Zen cut shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Citigroup began coverage on shares of Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective for the company. Finally, Truist Financial lowered their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Performance Food Group Stock Performance

NYSE PFGC traded down $0.47 during trading hours on Friday, hitting $98.66. 1,273,037 shares of the company's stock traded hands, compared to its average volume of 1,140,440. The business's fifty day moving average price is $88.65 and its two-hundred day moving average price is $84.22. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $15.40 billion, a P/E ratio of 41.11, a P/E/G ratio of 1.39 and a beta of 1.15. Performance Food Group Company has a 52 week low of $63.24 and a 52 week high of $100.46.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Erika T. Davis sold 8,200 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $89.72, for a total value of $735,704.00. Following the sale, the insider owned 46,722 shares of the company's stock, valued at approximately $4,191,897.84. This represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider A Brent King sold 6,335 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $100.00, for a total transaction of $633,500.00. Following the completion of the transaction, the insider owned 61,083 shares in the company, valued at approximately $6,108,300. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,172 shares of company stock valued at $7,534,748. 2.80% of the stock is currently owned by company insiders.

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.