Harvest Fund Management Co. Ltd Boosts Holdings in Performance Food Group (NYSE:PFGC)

Harvest Fund Management Co. Ltd grew its position in Performance Food Group (NYSE:PFGC) by 110.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,290 shares of the food distribution company’s stock after acquiring an additional 1,201 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Performance Food Group were worth $179,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in Performance Food Group by 281.4% in the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Performance Food Group during the third quarter valued at approximately $26,000. Innealta Capital LLC bought a new position in shares of Performance Food Group during the second quarter valued at approximately $30,000. Venturi Wealth Management LLC raised its holdings in shares of Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Performance Food Group by 414.8% during the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock worth $36,000 after acquiring an additional 365 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $87.91 on Thursday. The company’s 50 day moving average is $82.09 and its 200 day 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. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 0.96 and a beta of 1.44. 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 announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. On average, sell-side analysts anticipate that Performance Food Group will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PFGC shares. Guggenheim increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Truist Financial boosted their price objective on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays raised their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

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.