Principal Financial Group Inc. Sells 82,428 Shares of Performance Food Group (NYSE:PFGC)

Principal Financial Group Inc. lessened its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PFGC. Blue Trust Inc. increased 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 purchasing an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new position in Performance Food Group in the 3rd quarter valued at approximately $26,000. Innealta Capital LLC bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $30,000. Venturi Wealth Management LLC increased its position in shares of Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock valued at $32,000 after purchasing an additional 274 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of 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 valued at $36,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the sale, the insider now directly owns 192,868 shares in the company, valued at $17,026,387.04. This represents a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $84.39 on Friday. 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 has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a market capitalization of $13.15 billion, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. The company's 50 day moving average price is $85.35 and its two-hundred day moving average price is $75.72.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly 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). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. On average, analysts expect that Performance Food Group will post 4.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PFGC shares. Guggenheim lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. BMO Capital Markets boosted their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Truist Financial increased their price objective on Performance Food Group from $88.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and a consensus target price of $94.33.

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.