Geode Capital Management LLC Has $202.80 Million Stake in Performance Food Group (NYSE:PFGC)

Geode Capital Management LLC raised its position in shares of Performance Food Group (NYSE:PFGC) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,587,054 shares of the food distribution company’s stock after purchasing an additional 36,385 shares during the quarter. Geode Capital Management LLC’s holdings in Performance Food Group were worth $202,803,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. raised its position in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after buying an additional 242 shares during the period. Ashton Thomas Securities LLC purchased a new position in Performance Food Group during the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC increased its holdings in shares of Performance Food Group by 203.0% in the 3rd 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. UMB Bank n.a. lifted its position 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 worth $36,000 after purchasing an additional 365 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Performance Food Group during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Up 0.5 %

NYSE:PFGC opened at $88.65 on Monday. The company’s 50 day moving average is $84.72 and its 200-day moving average is $75.23. 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 12 month low of $61.60 and a 12 month high of $92.44. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 0.95 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 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 the consensus estimate of $15.22 billion. During the same quarter last year, the business earned $1.15 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Performance Food Group will post 4.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFGC. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upped 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 Wednesday, September 25th. Piper Sandler lifted their price objective 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. BMO Capital Markets boosted their target price on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

Insider Buying and Selling

In other news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the sale, the insider now owns 192,868 shares in the company, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by insiders.

Performance Food Group Company 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.