Franklin Resources Inc. Has $18.31 Million Holdings in Performance Food Group (NYSE:PFGC)

Franklin Resources Inc. lifted its position in Performance Food Group (NYSE:PFGC) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,467 shares of the food distribution company’s stock after acquiring an additional 2,417 shares during the quarter. Franklin Resources Inc. owned approximately 0.14% of Performance Food Group worth $18,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Performance Food Group in the third quarter valued at $154,000. World Investment Advisors LLC acquired a new position in Performance Food Group during the third quarter valued at $2,185,000. Coldstream Capital Management Inc. lifted its stake in Performance Food Group by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company’s stock worth $329,000 after acquiring an additional 142 shares in the last quarter. Geode Capital Management LLC boosted its position in Performance Food Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company’s stock worth $202,803,000 after acquiring an additional 36,385 shares during the period. Finally, National Bank of Canada FI grew its stake in Performance Food Group by 377.9% during the 3rd quarter. National Bank of Canada FI now owns 3,680 shares of the food distribution company’s stock valued at $288,000 after acquiring an additional 2,910 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Buying and Selling

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the sale, the insider now owns 192,868 shares of the company’s stock, valued at $17,026,387.04. This trade represents a 9.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.80% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $84.46 on Friday. The business’s 50-day simple moving average is $85.29 and its 200-day simple moving average is $75.63. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 0.95 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same quarter last year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that Performance Food Group will post 4.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of research analyst reports. Melius initiated coverage on shares of Performance Food Group in a research report on Wednesday. They issued a “hold” rating and a $95.00 price target for the company. Barclays lifted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Jefferies Financial Group lifted their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Piper Sandler boosted their target price on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.33.

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.