Larson Financial Group LLC Grows Stake in Performance Food Group (NYSE:PFGC)

Larson Financial Group LLC increased its stake in Performance Food Group (NYSE:PFGC) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,568 shares of the food distribution company’s stock after buying an additional 1,066 shares during the quarter. Larson Financial Group LLC’s holdings in Performance Food Group were worth $2,418,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of Performance Food Group by 4.3% during the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock valued at $289,000 after acquiring an additional 179 shares in the last quarter. nVerses Capital LLC acquired a new stake in Performance Food Group during the 2nd quarter valued at approximately $436,000. Hantz Financial Services Inc. purchased a new stake in Performance Food Group during the 2nd quarter worth approximately $718,000. International Assets Investment Management LLC acquired a new position in shares of Performance Food Group in the 2nd quarter valued at approximately $105,000. Finally, Peregrine Capital Management LLC boosted its stake in shares of Performance Food Group by 1.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 200,957 shares of the food distribution company’s stock valued at $13,285,000 after buying an additional 2,570 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PFGC shares. Truist Financial upped their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets increased their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group increased their target price on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.38.

Insider Activity at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Patrick T. Hagerty sold 8,000 shares of the firm’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 completion of the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE:PFGC traded down $1.08 during trading hours on Wednesday, hitting $72.41. The stock had a trading volume of 25,987 shares, compared to its average volume of 1,052,588. The stock’s fifty day simple moving average is $67.96 and its 200 day simple moving average is $70.44. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 0.82 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. Sell-side analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

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.