Massachusetts Financial Services Co. MA Acquires 51,915 Shares of Performance Food Group (NYSE:PFGC)

Massachusetts Financial Services Co. MA boosted its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 962.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,309 shares of the food distribution company's stock after purchasing an additional 51,915 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Performance Food Group were worth $4,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFGC. Blue Trust Inc. boosted its holdings in shares of Performance Food Group by 281.4% during the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock worth $26,000 after buying an additional 242 shares during the period. Ashton Thomas Securities LLC bought a new stake in Performance Food Group during the third quarter valued at about $26,000. Innealta Capital LLC acquired a new stake in shares of Performance Food Group in the second quarter valued at about $30,000. Venturi Wealth Management LLC increased its stake in shares of Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock worth $32,000 after purchasing an additional 274 shares during the period. Finally, UMB Bank n.a. lifted its position 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. Institutional investors and hedge funds own 96.87% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFGC. StockNews.com lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Truist Financial upped their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, November 8th. BMO Capital Markets increased their target price on Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and a consensus target price of $94.27.

Insider Transactions at Performance Food Group

In related 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 transaction 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. This trade represents a 4.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.

Performance Food Group Trading Up 0.7 %

Shares of PFGC stock traded up $0.63 on Wednesday, reaching $88.71. 22,577 shares of the stock were exchanged, compared to its average volume of 1,019,854. The stock has a 50 day moving average price of $81.84 and a 200 day moving average price of $73.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The stock has a market cap of $13.82 billion, a PE ratio of 32.50, a P/E/G 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.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS 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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same period in the prior year, the firm posted $1.15 EPS. Performance Food Group's revenue was up 3.2% on a year-over-year basis. Equities research analysts forecast that Performance Food Group will post 4.73 EPS for the current fiscal year.

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.