Ameriprise Financial Inc. Grows Stake in Performance Food Group (NYSE:PFGC)

Ameriprise Financial Inc. lifted its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 230,318 shares of the food distribution company's stock after acquiring an additional 44,924 shares during the quarter. Ameriprise Financial Inc. owned about 0.15% of Performance Food Group worth $19,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Norges Bank bought a new position in shares of Performance Food Group in the fourth quarter valued at approximately $164,471,000. Freestone Grove Partners LP acquired a new stake in shares of Performance Food Group in the fourth quarter worth $35,250,000. JPMorgan Chase & Co. grew its stake in Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock valued at $298,794,000 after buying an additional 401,235 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Performance Food Group by 658.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock worth $38,902,000 after acquiring an additional 399,430 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Trading Down 1.9%

NYSE:PFGC traded down $1.70 during trading hours on Wednesday, hitting $85.81. 106,321 shares of the company were exchanged, compared to its average volume of 1,103,477. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The company has a fifty day simple moving average of $79.34 and a 200 day simple moving average of $83.49. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company's revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 19,113 shares of Performance Food Group stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $87.55, for a total value of $1,673,343.15. Following the completion of the sale, the insider now owns 152,293 shares of the company's stock, valued at approximately $13,333,252.15. This trade represents a 11.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

PFGC has been the subject of a number of recent research reports. Truist Financial cut their target price on Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Morgan Stanley raised their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. Finally, Barclays upped their price objective on Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.55.

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.