Primecap Management Co. CA Boosts Stake in Performance Food Group (NYSE:PFGC)

Primecap Management Co. CA boosted its position in shares of Performance Food Group (NYSE:PFGC) by 29.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,098,330 shares of the food distribution company’s stock after purchasing an additional 473,050 shares during the period. Primecap Management Co. CA owned approximately 1.35% of Performance Food Group worth $164,446,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Eminence Capital LP increased its position in shares of Performance Food Group by 7.4% during the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after acquiring an additional 164,472 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after acquiring an additional 469,500 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Performance Food Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company’s stock worth $83,214,000 after buying an additional 15,981 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Performance Food Group by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,054,625 shares of the food distribution company’s stock worth $78,718,000 after buying an additional 16,580 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Shares of PFGC opened at $86.39 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. The stock has a market capitalization of $13.46 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. Performance Food Group has a 12-month low of $61.59 and a 12-month high of $89.00. The business’s fifty day moving average price is $81.05 and its 200 day moving average price is $73.17.

Performance Food Group (NYSE:PFGC) last posted 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). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Performance Food Group will post 4.73 EPS for the current year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PFGC shares. Piper Sandler upped their price target on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group increased 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 note on Thursday, November 7th. Jefferies Financial Group upped their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays increased their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Truist Financial raised their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $94.27.

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.