Performance Food Group (NYSE:PFGC) Shares Sold by Quest Partners LLC

Quest Partners LLC reduced its position in Performance Food Group (NYSE:PFGC) by 75.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,325 shares of the food distribution company’s stock after selling 13,493 shares during the period. Quest Partners LLC’s holdings in Performance Food Group were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFGC. Blue Trust Inc. lifted its position in shares of Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Performance Food Group during the third quarter valued at approximately $26,000. Venturi Wealth Management LLC increased its stake in shares of Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock valued at $32,000 after acquiring an additional 274 shares during the period. UMB Bank n.a. increased its stake in shares of Performance Food Group by 414.8% during the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares during the period. Finally, Innealta Capital LLC bought a new stake in Performance Food Group during the second quarter worth approximately $30,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PFGC. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group lifted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Guggenheim raised their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Truist Financial raised their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Barclays lifted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $94.27.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $88.76 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. The firm’s 50-day simple moving average is $81.60 and its 200-day simple moving average is $73.47. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $89.73. The firm has a market cap of $13.83 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44.

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

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.