Wilmington Savings Fund Society FSB Acquires New Stake in Performance Food Group (NYSE:PFGC)

Wilmington Savings Fund Society FSB acquired a new position in shares of Performance Food Group (NYSE:PFGC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,963 shares of the food distribution company’s stock, valued at approximately $154,000.

Several other hedge funds also recently made changes to their positions in PFGC. Blue Trust Inc. boosted its stake in shares of Performance Food Group by 281.4% in 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 in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Performance Food Group during the 3rd quarter worth $26,000. Venturi Wealth Management LLC grew its stake in shares of Performance Food Group by 203.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after purchasing an additional 274 shares during the period. UMB Bank n.a. increased its holdings in shares of Performance Food Group by 414.8% in the 3rd quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $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 in the second quarter valued at about $30,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

Performance Food Group stock opened at $84.46 on Friday. The stock has a market capitalization of $13.16 billion, a P/E ratio of 31.17, a P/E/G ratio of 0.95 and a beta of 1.44. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The firm’s 50-day moving average is $85.29 and its two-hundred day moving average is $75.63.

Performance Food Group (NYSE:PFGC) last announced its 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 firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. Equities analysts predict that Performance Food Group will post 4.73 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on PFGC. Wells Fargo & Company upped their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Truist Financial raised their price objective on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Guggenheim boosted their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. Finally, BMO Capital Markets boosted their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.33.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction that occurred 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 directly owns 192,868 shares of the company’s stock, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

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.