Moran Wealth Management LLC Buys Shares of 53,923 Performance Food Group (NYSE:PFGC)

Moran Wealth Management LLC purchased a new stake in Performance Food Group (NYSE:PFGC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,923 shares of the food distribution company's stock, valued at approximately $4,226,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock valued at $26,000 after acquiring an additional 242 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Performance Food Group in the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC lifted its holdings in Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Performance Food Group by 414.8% during the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company's stock worth $36,000 after purchasing an additional 365 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Performance Food Group during the second quarter worth about $30,000. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Stock Performance

PFGC stock traded up $2.38 during midday trading on Thursday, reaching $86.39. The company had a trading volume of 485,638 shares, compared to its average volume of 1,026,413. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $80.78 and a 200 day moving average price of $73.07. The firm has a market capitalization of $13.46 billion, a PE ratio of 31.00, a P/E/G ratio of 0.89 and a beta of 1.44. Performance Food Group has a fifty-two week low of $61.59 and a fifty-two week high of $89.00.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same period last year, the business earned $1.15 EPS. The firm's revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Performance Food Group will post 4.73 earnings per share for the current year.

Insider Activity

In other news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group 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 owns 162,987 shares of the company's stock, valued at $12,152,310.72. The trade was a 4.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares in the company, valued at $11,185,774.32. This represents a 14.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PFGC. Truist Financial increased their price target on Performance Food Group from $88.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Jefferies Financial Group increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. BMO Capital Markets lifted their price target on Performance Food Group from $87.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, Barclays raised their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.27.

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.