Chase Investment Counsel Corp Takes Position in Performance Food Group (NYSE:PFGC)

Chase Investment Counsel Corp purchased a new position in Performance Food Group (NYSE:PFGC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 39,142 shares of the food distribution company's stock, valued at approximately $3,309,000.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after acquiring an additional 401,235 shares during the period. Aigen Investment Management LP boosted its holdings in Performance Food Group by 56.1% in the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company's stock valued at $1,330,000 after purchasing an additional 6,099 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Performance Food Group during the 3rd quarter worth about $2,772,000. State Street Corp grew its position in Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company's stock worth $360,197,000 after purchasing an additional 97,069 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Performance Food Group by 134.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock valued at $54,665,000 after buying an additional 371,078 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the transaction, the insider now directly owns 172,372 shares of the company's stock, valued at approximately $14,582,671.20. This represents a 10.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PFGC shares. Morgan Stanley upped their target price on Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. UBS Group upped their price objective 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. Truist Financial lifted their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the company a "buy" rating in a report on Friday, November 8th. BMO Capital Markets boosted their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Melius began coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a "hold" rating and a $95.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $95.73.

Performance Food Group Price Performance

NYSE:PFGC traded down $0.18 during trading hours on Wednesday, reaching $81.42. 963,313 shares of the company were exchanged, compared to its average volume of 1,175,434. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The firm has a market cap of $12.72 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The stock's 50-day moving average is $86.19 and its 200-day moving average is $82.93.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. On average, sell-side analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

About Performance Food Group

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.