Principal Financial Group Inc. Lowers Stock Holdings in Performance Food Group (NYSE:PFGC)

Principal Financial Group Inc. trimmed its stake in Performance Food Group (NYSE:PFGC - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,461,894 shares of the food distribution company's stock after selling 82,428 shares during the period. Principal Financial Group Inc. owned approximately 0.94% of Performance Food Group worth $114,569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PFGC. Blue Trust Inc. lifted its stake in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock worth $26,000 after purchasing an additional 242 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Performance Food Group during the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC lifted its position in 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 buying an additional 274 shares during the last quarter. UMB Bank n.a. boosted its stake in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company's stock worth $36,000 after buying an additional 365 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Performance Food Group during the second quarter valued at approximately $30,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Trading Down 0.1 %

PFGC stock traded down $0.07 on Friday, reaching $84.39. The company's stock had a trading volume of 2,450,125 shares, compared to its average volume of 1,031,873. The firm has a market cap of $13.15 billion, a PE ratio of 31.14, a PEG ratio of 0.95 and a beta of 1.44. The business has a fifty day simple moving average of $85.35 and a two-hundred day simple moving average of $75.77. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. 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 (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 earnings per share. As a group, research analysts forecast that Performance Food Group will post 4.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PFGC shares. Melius began coverage on shares of Performance Food Group in a report on Wednesday. They issued a "hold" rating and a $95.00 price objective for the company. Truist Financial boosted their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. UBS Group raised their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. BMO Capital Markets boosted their target price on Performance Food Group from $87.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.33.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the transaction, the insider now owns 192,868 shares of the company's stock, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.80% of the company's stock.

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.