Wealthfront Advisers LLC Buys Shares of 50,275 Performance Food Group (NYSE:PFGC)

Wealthfront Advisers LLC purchased a new position in shares of Performance Food Group (NYSE:PFGC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 50,275 shares of the food distribution company’s stock, valued at approximately $4,251,000.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Performance Food Group during the 3rd quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its holdings in Performance Food Group by 203.0% during the third 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 during the period. Central Pacific Bank Trust Division purchased a new position in shares of Performance Food Group in the fourth quarter valued at about $42,000. Blue Trust Inc. boosted its stake in shares of Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock worth $42,000 after acquiring an additional 212 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in shares of Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after acquiring an additional 239 shares during the period. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PFGC. Morgan Stanley boosted their price target on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Barclays decreased their target price on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Melius Research raised Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.73.

Insider Buying and Selling

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the sale, the insider now directly owns 172,372 shares in the company, valued at approximately $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $74.93 on Friday. The stock has a 50 day moving average price of $85.16 and a 200-day moving average price of $82.98. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Equities analysts expect that Performance Food Group will post 4.58 EPS for the current year.

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.