Wealthfront Advisers LLC Acquires New Shares in Performance Food Group (NYSE:PFGC)

Wealthfront Advisers LLC bought a new position in Performance Food Group (NYSE:PFGC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,275 shares of the food distribution company's stock, valued at approximately $4,251,000.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in shares of Performance Food Group by 3.2% in the third 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 during the period. Coldstream Capital Management Inc. grew its holdings in Performance Food Group by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company's stock valued at $329,000 after buying an additional 142 shares during the last quarter. Highland Capital Management LLC increased its position in Performance Food Group by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company's stock worth $246,000 after buying an additional 183 shares during the period. Blue Trust Inc. lifted its holdings in shares of Performance Food Group by 64.6% during the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after buying an additional 212 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Performance Food Group by 1.1% in the fourth quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company's stock valued at $1,597,000 after acquiring an additional 213 shares during the period. Institutional investors own 96.87% of the company's stock.

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Performance Food Group Price Performance

Shares of Performance Food Group stock traded up $0.52 during midday trading on Monday, hitting $77.02. 1,005,422 shares of the company were exchanged, compared to its average volume of 1,051,112. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $85.00 and a 200-day simple moving average of $83.11. The firm has a market cap of $12.03 billion, a P/E ratio of 31.06, a PEG ratio of 0.96 and a beta of 1.40.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current year.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the transaction, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. This represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PFGC. Melius started coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a "hold" rating and a $95.00 target price on the stock. Melius Research upgraded shares of Performance Food Group to a "hold" rating in a research note on Wednesday, December 18th. Piper Sandler downgraded Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Barclays reduced their price objective on Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $95.73.

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.