Moran Wealth Management LLC Has $7.92 Million Stock Holdings in Performance Food Group (NYSE:PFGC)

Moran Wealth Management LLC raised its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 73.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,667 shares of the food distribution company's stock after buying an additional 39,744 shares during the quarter. Moran Wealth Management LLC owned about 0.06% of Performance Food Group worth $7,920,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PFGC. Ashton Thomas Securities LLC bought a new stake in shares of Performance Food Group in the third quarter valued at about $26,000. Venturi Wealth Management LLC lifted its position in shares of Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock worth $32,000 after acquiring an additional 274 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Performance Food Group in the 4th quarter worth approximately $42,000. Blue Trust Inc. grew its holdings in shares of Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after purchasing an additional 212 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock valued at $60,000 after purchasing an additional 239 shares during the period. 96.87% of the stock is owned by institutional investors.

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Performance Food Group Price Performance

NYSE PFGC traded up $1.80 on Friday, hitting $76.66. 921,697 shares of the company were exchanged, compared to its average volume of 1,051,758. 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 company has a market cap of $11.98 billion, a P/E ratio of 30.91, a P/E/G ratio of 0.96 and a beta of 1.40. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The firm has a 50 day moving average of $85.16 and a two-hundred day moving average of $82.98.

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 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. On average, equities analysts predict that Performance Food Group will post 4.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on PFGC. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. StockNews.com cut shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Melius assumed coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a "hold" rating and a $95.00 target price on the stock. Morgan Stanley increased their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Melius Research upgraded shares of Performance Food Group to a "hold" rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.73.

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the sale, the insider now owns 172,372 shares in the company, valued at $14,582,671.20. The trade was a 10.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.