M&T Bank Corp Sells 571 Shares of Performance Food Group (NYSE:PFGC)

M&T Bank Corp cut its holdings in shares of Performance Food Group (NYSE:PFGC) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,678 shares of the food distribution company’s stock after selling 571 shares during the period. M&T Bank Corp’s holdings in Performance Food Group were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted 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 valued at $26,000 after buying an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new position in Performance Food Group in the 3rd quarter worth $26,000. Innealta Capital LLC acquired a new position in Performance Food Group in the 2nd quarter worth $30,000. Venturi Wealth Management LLC increased its holdings in 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 in the last quarter. Finally, UMB Bank n.a. raised its stake 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 during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the completion of the sale, the insider now owns 192,868 shares of the company’s stock, valued at approximately $17,026,387.04. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler upped their price objective on Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Wells Fargo & Company upped their price target on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Guggenheim lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.27.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $88.65 on Monday. The stock has a market cap of $13.81 billion, a P/E ratio of 32.71, a P/E/G ratio of 0.95 and a beta of 1.44. The company has a fifty day moving average price of $84.72 and a two-hundred day moving average price of $75.23. Performance Food Group has a one year low of $61.60 and a one year 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.

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 analyst estimates 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 for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. As a group, equities analysts predict that Performance Food Group will post 4.73 EPS 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.