Nicolet Advisory Services LLC Acquires New Holdings in Performance Food Group (NYSE:PFGC)

Nicolet Advisory Services LLC bought a new stake in Performance Food Group (NYSE:PFGC - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,008 shares of the food distribution company's stock, valued at approximately $627,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Eminence Capital LP increased its holdings in shares of Performance Food Group by 7.4% during the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company's stock valued at $158,572,000 after purchasing an additional 164,472 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Performance Food Group by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company's stock valued at $142,170,000 after purchasing an additional 469,500 shares during the period. Primecap Management Co. CA increased its holdings in shares of Performance Food Group by 29.1% during the third quarter. Primecap Management Co. CA now owns 2,098,330 shares of the food distribution company's stock valued at $164,446,000 after purchasing an additional 473,050 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company's stock valued at $113,093,000 after purchasing an additional 372,218 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Performance Food Group by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company's stock valued at $83,214,000 after purchasing an additional 15,981 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PFGC has been the topic of a number of research analyst reports. Barclays raised their price target on Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. StockNews.com lowered Performance Food Group from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. UBS Group lifted their target price on Performance Food Group from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. BMO Capital Markets lifted 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. Finally, Truist Financial lifted their target price on Performance Food Group from $88.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.27.

Performance Food Group Stock Up 1.4 %

NYSE PFGC traded up $1.19 during trading on Friday, reaching $87.59. 798,751 shares of the company's stock were exchanged, compared to its average volume of 1,143,411. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $89.00. The firm has a market capitalization of $13.65 billion, a PE ratio of 32.32, a P/E/G ratio of 0.93 and a beta of 1.44. 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's fifty day simple moving average is $81.33 and its 200-day simple moving average is $73.32.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data 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 quarter in the previous year, the business posted $1.15 earnings per share. The company's revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Performance Food Group will post 4.73 EPS for the current year.

Insider Activity

In other news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The trade was a 4.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

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.