Harvest Fund Management Co. Ltd Grows Position in Performance Food Group (NYSE:PFGC)

Harvest Fund Management Co. Ltd grew its stake in Performance Food Group (NYSE:PFGC) by 110.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,290 shares of the food distribution company’s stock after buying an additional 1,201 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Performance Food Group were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFGC. Larson Financial Group LLC increased its position in shares of Performance Food Group by 4.1% in the 3rd quarter. Larson Financial Group LLC now owns 38,063 shares of the food distribution company’s stock valued at $2,983,000 after acquiring an additional 1,495 shares during the period. Cerity Partners LLC grew its stake in Performance Food Group by 12.7% during the 3rd quarter. Cerity Partners LLC now owns 61,186 shares of the food distribution company’s stock valued at $4,795,000 after purchasing an additional 6,892 shares during the last quarter. Nicolet Advisory Services LLC acquired a new position in shares of Performance Food Group in the third quarter valued at about $627,000. Citigroup Inc. increased its holdings in shares of Performance Food Group by 3.9% in the third quarter. Citigroup Inc. now owns 88,312 shares of the food distribution company’s stock valued at $6,921,000 after purchasing an additional 3,298 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Performance Food Group by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,194,400 shares of the food distribution company’s stock worth $93,605,000 after purchasing an additional 24,473 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PFGC. Piper Sandler upped their target price on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Truist Financial raised their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. Finally, StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $94.27.

Performance Food Group Stock Down 0.2 %

Shares of NYSE PFGC opened at $87.91 on Thursday. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The company’s 50-day simple moving average is $82.09 and its 200-day simple moving average is $73.69. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $89.73.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts predict that Performance Food Group will post 4.73 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.

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.