Charles Schwab Investment Management Inc. Acquires 24,473 Shares of Performance Food Group (NYSE:PFGC)

Charles Schwab Investment Management Inc. grew its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 2.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,194,400 shares of the food distribution company's stock after buying an additional 24,473 shares during the period. Charles Schwab Investment Management Inc. owned 0.77% of Performance Food Group worth $93,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PFGC. Price T Rowe Associates Inc. MD boosted its position in shares of Performance Food Group by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,054,625 shares of the food distribution company's stock worth $78,718,000 after purchasing an additional 16,580 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Performance Food Group by 15.3% in the 1st quarter. Tidal Investments LLC now owns 7,851 shares of the food distribution company's stock valued at $586,000 after acquiring an additional 1,042 shares during the period. Virtu Financial LLC purchased a new position in Performance Food Group in the first quarter valued at about $354,000. Atria Investments Inc lifted 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 acquiring an additional 12,919 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Performance Food Group by 257.2% in the first quarter. Cetera Investment Advisers now owns 45,851 shares of the food distribution company's stock valued at $3,422,000 after purchasing an additional 33,015 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PFGC shares. Morgan Stanley reaffirmed an "equal weight" rating and issued a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Barclays lifted their target price on Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. UBS Group increased their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their target price on Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Finally, Piper Sandler boosted their price target on Performance Food Group from $79.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.27.

Performance Food Group Price Performance

Shares of NYSE PFGC traded up $0.50 during midday trading on Wednesday, reaching $88.58. The company's stock had a trading volume of 56,131 shares, compared to its average volume of 1,019,967. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 0.96 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 current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average price of $81.84 and a 200 day moving average price of $73.59.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). The company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 earnings per share. On average, equities research analysts expect that Performance Food Group will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other Performance Food Group news, 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 owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company's stock.

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.