State Street Corp Acquires 97,069 Shares of Performance Food Group (NYSE:PFGC)

State Street Corp grew its stake in Performance Food Group (NYSE:PFGC - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,596,105 shares of the food distribution company's stock after acquiring an additional 97,069 shares during the quarter. State Street Corp owned 2.95% of Performance Food Group worth $360,197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc increased its stake in Performance Food Group by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company's stock worth $354,000 after purchasing an additional 139 shares in the last quarter. Creative Planning boosted its position in Performance Food Group by 1.2% during the 3rd quarter. Creative Planning now owns 11,684 shares of the food distribution company's stock worth $916,000 after acquiring an additional 140 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Performance Food Group by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company's stock worth $469,000 after acquiring an additional 160 shares during the last quarter. Cetera Investment Advisers boosted its position in Performance Food Group by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company's stock worth $3,044,000 after acquiring an additional 186 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in 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 acquiring an additional 242 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction dated 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 transaction, the insider now owns 192,868 shares in the company, valued at $17,026,387.04. The trade was a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by company insiders.

Performance Food Group Stock Performance

PFGC stock traded up $0.45 during trading hours on Tuesday, hitting $89.09. 960,538 shares of the stock were exchanged, compared to its average volume of 1,029,161. 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 firm has a market capitalization of $13.88 billion, a P/E ratio of 32.87, a P/E/G ratio of 0.97 and a beta of 1.44. The company has a 50-day simple moving average of $83.89 and a two-hundred day simple moving average of $74.68. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFGC. Wells Fargo & Company upped their price target on Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Morgan Stanley reaffirmed an "equal weight" rating and set a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. UBS Group increased their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Jefferies Financial Group increased their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets increased their price objective on Performance Food Group from $87.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of "Moderate Buy" and an average price target of $94.27.

About Performance Food Group

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.