Oppenheimer Asset Management Inc. Boosts Stake in Performance Food Group (NYSE:PFGC)

Oppenheimer Asset Management Inc. increased its position in shares of Performance Food Group (NYSE:PFGC) by 30.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 55,082 shares of the food distribution company’s stock after buying an additional 12,831 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Performance Food Group were worth $3,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Atria Investments Inc raised its position in Performance Food Group by 79.3% during the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock worth $2,180,000 after buying an additional 12,919 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $6,843,000. BNP Paribas acquired a new position in Performance Food Group during the first quarter worth $1,251,000. Capstone Investment Advisors LLC purchased a new position in Performance Food Group in the first quarter worth $1,030,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Performance Food Group during the 1st quarter worth $1,913,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Activity

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the sale, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Stock Performance

NYSE PFGC opened at $75.28 on Tuesday. The business’s 50-day simple moving average is $69.31 and its 200-day simple moving average is $70.25. The firm has a market capitalization of $11.73 billion, a P/E ratio of 28.09, a P/E/G ratio of 0.80 and a beta of 1.44. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 EPS. Equities analysts predict that Performance Food Group will post 4.87 EPS for the current year.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley dropped their price target on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company lifted their target price on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

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.