Cerity Partners LLC Increases Stake in Performance Food Group (NYSE:PFGC)

Cerity Partners LLC boosted its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,186 shares of the food distribution company's stock after acquiring an additional 6,892 shares during the quarter. Cerity Partners LLC's holdings in Performance Food Group were worth $4,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nicolet Advisory Services LLC purchased a new position in shares of Performance Food Group in the 3rd quarter worth approximately $627,000. Citigroup Inc. boosted its stake in Performance Food Group by 3.9% during the third quarter. Citigroup Inc. now owns 88,312 shares of the food distribution company's stock worth $6,921,000 after buying an additional 3,298 shares during the period. Charles Schwab Investment Management Inc. increased its position in Performance Food Group by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,194,400 shares of the food distribution company's stock valued at $93,605,000 after acquiring an additional 24,473 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Performance Food Group by 962.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 57,309 shares of the food distribution company's stock valued at $4,491,000 after acquiring an additional 51,915 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in shares of Performance Food Group by 29.1% in the 3rd quarter. Primecap Management Co. CA now owns 2,098,330 shares of the food distribution company's stock worth $164,446,000 after acquiring an additional 473,050 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Guggenheim upped 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $92.00 target price on shares of Performance Food Group in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target on Performance Food Group from $93.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. BMO Capital Markets upped their price objective on Performance Food Group from $87.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their target price on Performance Food Group from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Performance Food Group presently has an average rating of "Moderate Buy" and an average target price of $94.27.

Performance Food Group Stock Up 0.4 %

Shares of NYSE PFGC traded up $0.35 during midday trading on Friday, reaching $88.26. 405,400 shares of the company's stock traded hands, compared to its average volume of 1,019,756. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 0.95 and a beta of 1.44. Performance Food Group has a one year low of $61.60 and a one year high of $89.73. 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's 50 day simple moving average is $82.53 and its 200-day simple moving average is $73.92.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $15.22 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The company's revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that Performance Food Group will post 4.73 EPS for the current fiscal year.

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.