Nisa Investment Advisors LLC Decreases Holdings in Performance Food Group (NYSE:PFGC)

Nisa Investment Advisors LLC cut its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 84.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,412 shares of the food distribution company's stock after selling 13,607 shares during the period. Nisa Investment Advisors LLC's holdings in Performance Food Group were worth $159,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Performance Food Group in the fourth quarter worth $29,000. Rise Advisors LLC purchased a new stake in Performance Food Group in the first quarter worth $29,000. Signaturefd LLC grew its stake in Performance Food Group by 38.8% in the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company's stock worth $35,000 after purchasing an additional 143 shares during the period. Mather Group LLC. purchased a new stake in Performance Food Group in the first quarter worth $44,000. Finally, Headlands Technologies LLC purchased a new stake in Performance Food Group in the fourth quarter worth $48,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Shares of NYSE:PFGC traded up $1.15 during midday trading on Friday, reaching $74.71. 866,271 shares of the company's stock traded hands, compared to its average volume of 1,067,436. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 0.92 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The stock has a 50 day moving average of $67.09 and a 200 day moving average of $70.35.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, equities research analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now owns 10,184 shares of the company's stock, valued at $749,644.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimberly Grant sold 4,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PFGC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Performance Food Group from $93.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. StockNews.com raised Performance Food Group from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Jefferies Financial Group increased their target price on Performance Food Group from $84.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Truist Financial increased their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Finally, Morgan Stanley cut their target price on Performance Food Group from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and an average price target of $86.38.

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.