JPMorgan Chase & Co. raised its position in Performance Food Group (NYSE:PFGC – Get Rating) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,682,406 shares of the food distribution company’s stock after buying an additional 251,875 shares during the period. JPMorgan Chase & Co. owned approximately 3.00% of Performance Food Group worth $273,407,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC purchased a new position in Performance Food Group in the 3rd quarter valued at about $28,000. Quadrant Capital Group LLC boosted its position in Performance Food Group by 43.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 834 shares of the food distribution company’s stock valued at $36,000 after buying an additional 251 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Performance Food Group during the fourth quarter worth about $38,000. Harvest Fund Management Co. Ltd bought a new position in shares of Performance Food Group during the fourth quarter worth about $39,000. Finally, Castleview Partners LLC bought a new position in shares of Performance Food Group during the fourth quarter worth about $63,000. 97.35% of the stock is owned by hedge funds and other institutional investors.
Performance Food Group Price Performance
Shares of NYSE:PFGC opened at $55.65 on Friday. The firm’s 50 day moving average is $59.54 and its two-hundred day moving average is $59.09. Performance Food Group has a 52 week low of $38.51 and a 52 week high of $63.22. The firm has a market capitalization of $8.69 billion, a P/E ratio of 26.75 and a beta of 1.36. The company has a current ratio of 1.69, a quick ratio of 0.75 and a debt-to-equity ratio of 1.10.
Performance Food Group (NYSE:PFGC – Get Rating) last announced its quarterly earnings results on Wednesday, May 10th. The food distribution company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. Performance Food Group had a net margin of 0.57% and a return on equity of 17.20%. The company had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.94 billion. Analysts anticipate that Performance Food Group will post 3.86 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on PFGC. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. UBS Group increased their price target on shares of Performance Food Group from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Truist Financial increased their price target on shares of Performance Food Group from $75.00 to $80.00 in a research report on Friday, May 12th. TheStreet raised shares of Performance Food Group from a “c+” rating to a “b” rating in a research report on Monday, March 20th. Finally, Stephens reaffirmed an “overweight” rating and set a $68.00 price target on shares of Performance Food Group in a research report on Friday, February 24th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $73.00.
Insider Buying and Selling at Performance Food Group
In other Performance Food Group news, insider George L. Holm sold 2,680 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $60.06, for a total value of $160,960.80. Following the sale, the insider now owns 658,400 shares in the company, valued at $39,543,504. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider George L. Holm sold 2,680 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $60.06, for a total value of $160,960.80. Following the completion of the transaction, the insider now directly owns 658,400 shares in the company, valued at $39,543,504. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick T. Hagerty sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $55.91, for a total transaction of $111,820.00. Following the completion of the transaction, the insider now owns 151,790 shares of the company’s stock, valued at $8,486,578.90. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.
About Performance Food Group
Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice, Vistar, & Convenience. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.
Further Reading
Want to see what other hedge funds are holding PFGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Performance Food Group (NYSE:PFGC – Get Rating).
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