Benjamin Edwards Inc. Increases Holdings in Performance Food Group (NYSE:PFGC)

Benjamin Edwards Inc. increased its stake in Performance Food Group (NYSE:PFGC) by 13.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 32,769 shares of the food distribution company’s stock after buying an additional 3,778 shares during the quarter. Benjamin Edwards Inc.’s holdings in Performance Food Group were worth $2,166,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PFGC. Point72 Asset Management L.P. grew its position in shares of Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after purchasing an additional 1,770,683 shares in the last quarter. Norges Bank purchased a new position in shares of Performance Food Group in the fourth quarter valued at $119,726,000. Primecap Management Co. CA grew its position in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after purchasing an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after purchasing an additional 469,500 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Performance Food Group by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after purchasing an additional 397,114 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFGC has been the subject of several recent analyst reports. Truist Financial boosted their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays boosted their target price on Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Morgan Stanley reduced their target price 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. BMO Capital Markets boosted their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group boosted their target price on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.38.

Performance Food Group Price Performance

PFGC opened at $77.02 on Friday. The stock has a 50-day moving average price of $70.12 and a 200-day moving average price of $70.33. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $12.00 billion, a P/E ratio of 28.74, a PEG ratio of 0.80 and a beta of 1.44.

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

Insider Activity

In other news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,500 shares of company stock valued at $7,426,075. Insiders own 2.60% 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.