World Investment Advisors LLC Makes New Investment in Performance Food Group (NYSE:PFGC)

World Investment Advisors LLC purchased a new position in Performance Food Group (NYSE:PFGC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,879 shares of the food distribution company’s stock, valued at approximately $2,185,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in Performance Food Group by 26.3% in the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after buying an additional 2,773,547 shares during the period. State Street Corp boosted its stake in shares of Performance Food Group by 2.2% in the third quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock worth $360,197,000 after acquiring an additional 97,069 shares during the period. Holocene Advisors LP grew its position in shares of Performance Food Group by 32.0% during the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock worth $234,174,000 after purchasing an additional 724,094 shares in the last quarter. Geode Capital Management LLC raised its stake in Performance Food Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company’s stock valued at $202,803,000 after purchasing an additional 36,385 shares during the period. Finally, Eminence Capital LP lifted its holdings in Performance Food Group by 7.4% in the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after purchasing an additional 164,472 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

NYSE:PFGC opened at $88.65 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. The stock’s fifty day moving average is $84.72 and its 200 day moving average is $75.18. The firm has a market capitalization of $13.81 billion, a PE ratio of 32.71, a PEG ratio of 0.96 and a beta of 1.44. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

Performance Food Group (NYSE:PFGC) last released 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%. Performance Food Group’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. On average, sell-side analysts anticipate that Performance Food Group will post 4.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets lifted their price target on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays increased their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Truist Financial lifted their target price on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company increased their price target on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.27.

Insider Activity

In other news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 192,868 shares in the company, valued at approximately $17,026,387.04. This represents a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

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.