Nicolet Advisory Services LLC Acquires New Holdings in Performance Food Group (NYSE:PFGC)

Nicolet Advisory Services LLC bought a new position in shares of Performance Food Group (NYSE:PFGC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,008 shares of the food distribution company’s stock, valued at approximately $627,000.

Several other institutional investors and hedge funds have also bought and sold shares of PFGC. Blue Trust Inc. increased its holdings 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 worth $26,000 after purchasing an additional 242 shares during the period. Ashton Thomas Securities LLC purchased a new position in Performance Food Group during the third quarter worth about $26,000. Innealta Capital LLC bought a new position in Performance Food Group in the 2nd quarter worth about $30,000. Venturi Wealth Management LLC raised 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 acquiring an additional 274 shares in the last quarter. Finally, UMB Bank n.a. boosted its position 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 valued at $36,000 after acquiring an additional 365 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFGC. BMO Capital Markets raised their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays upped 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. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.27.

Insider Activity

In other news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Performance Food Group Price Performance

PFGC opened at $87.59 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $89.00. The stock’s 50 day simple moving average is $81.33 and its 200 day simple moving average is $73.32. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 0.93 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last issued its earnings results 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). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS. As a group, analysts predict that Performance Food Group will post 4.73 earnings per share for the current year.

About Performance Food Group

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.