Performance Food Group (NYSE:PFGC) Stock Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Performance Food Group (NYSE:PFGC - Free Report) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,812,602 shares of the food distribution company's stock after acquiring an additional 401,235 shares during the quarter. JPMorgan Chase & Co. owned about 2.45% of Performance Food Group worth $298,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PFGC. Aigen Investment Management LP increased its holdings in Performance Food Group by 56.1% during the 3rd quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company's stock worth $1,330,000 after purchasing an additional 6,099 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Performance Food Group during the third quarter worth approximately $2,772,000. State Street Corp increased its stake in shares of Performance Food Group by 2.2% in the third quarter. State Street Corp now owns 4,596,105 shares of the food distribution company's stock worth $360,197,000 after buying an additional 97,069 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Performance Food Group in the third quarter valued at $3,032,000. Finally, Natixis Advisors LLC boosted its stake in Performance Food Group by 14.2% during the 3rd quarter. Natixis Advisors LLC now owns 221,544 shares of the food distribution company's stock valued at $17,363,000 after acquiring an additional 27,586 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the sale, the insider now directly owns 192,868 shares in the company, valued at approximately $17,026,387.04. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Performance Food Group Stock Performance

Shares of Performance Food Group stock traded down $0.87 during trading on Monday, hitting $84.19. 987,500 shares of the stock were exchanged, compared to its average volume of 1,022,158. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The stock's fifty day moving average is $85.61 and its 200 day moving average is $76.48. The stock has a market cap of $13.12 billion, a PE ratio of 31.07, a P/E/G ratio of 0.95 and a beta of 1.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. During the same period last year, the firm posted $1.15 EPS. The business's quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Performance Food Group will post 4.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PFGC. UBS Group boosted their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley reissued an "equal weight" rating and issued a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. StockNews.com raised Performance Food Group from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. Melius assumed coverage on Performance Food Group in a report on Wednesday, December 18th. They issued a "hold" rating and a $95.00 price target for the company. Finally, Piper Sandler raised their price objective on Performance Food Group from $79.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Performance Food Group has a consensus rating of "Moderate Buy" and a consensus target price of $94.33.

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.