Ashton Thomas Securities LLC Acquires Shares of 330 Performance Food Group (NYSE:PFGC)

Ashton Thomas Securities LLC bought a new position in Performance Food Group (NYSE:PFGC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 330 shares of the food distribution company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PFGC. Allspring Global Investments Holdings LLC boosted its holdings in Performance Food Group by 12.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company’s stock valued at $396,000 after purchasing an additional 584 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Performance Food Group by 5.8% during the 1st quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock worth $317,000 after purchasing an additional 233 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Performance Food Group during the 1st quarter worth $413,000. First Eagle Investment Management LLC increased its holdings in shares of Performance Food Group by 1.9% in the 1st quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after purchasing an additional 200 shares in the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Performance Food Group in the 1st quarter valued at about $213,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $85.76 on Friday. The company has a 50-day simple moving average of $79.57 and a 200-day simple moving average of $72.54. 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 company has a market cap of $13.36 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. Performance Food Group has a 12 month low of $61.29 and a 12 month high of $89.00.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that Performance Food Group will post 4.71 earnings per share for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the transaction, the insider now owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This trade represents a 14.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the sale, the director now directly owns 10,184 shares of the company’s stock, valued at $749,644.24. This represents a 28.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PFGC. BMO Capital Markets upped their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. Finally, Truist Financial boosted their price objective on shares of Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.50.

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.