Ameriprise Financial Inc. Purchases 44,924 Shares of Performance Food Group (NYSE:PFGC)

Ameriprise Financial Inc. raised its position in Performance Food Group (NYSE:PFGC - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.15% of Performance Food Group worth $19,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in Performance Food Group in the 4th quarter valued at $26,000. Blue Trust Inc. increased its holdings in shares of Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock valued at $42,000 after purchasing an additional 212 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock valued at $60,000 after purchasing an additional 239 shares during the period. UMB Bank n.a. lifted its stake in shares of Performance Food Group by 69.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock worth $65,000 after buying an additional 313 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in shares of Performance Food Group by 40.8% during the 4th quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock worth $66,000 after buying an additional 226 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley lifted their price target on Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Truist Financial decreased their price objective on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.55.

Performance Food Group Price Performance

Performance Food Group stock traded down $0.56 during trading hours on Monday, reaching $87.53. 678,914 shares of the stock were exchanged, compared to its average volume of 1,107,571. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.69. The company has a market cap of $13.66 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The stock has a 50 day moving average of $78.89 and a two-hundred day moving average of $83.42.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued 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). The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The business's revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. Equities analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

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

Performance Food Group Company 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.