Allspring Global Investments Holdings LLC Raises Holdings in Performance Food Group (NYSE:PFGC)

Allspring Global Investments Holdings LLC increased its stake in shares of Performance Food Group (NYSE:PFGC) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,048 shares of the food distribution company’s stock after buying an additional 1,689 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Performance Food Group were worth $709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Primecap Management Co. CA grew its stake in Performance Food Group by 223.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after acquiring an additional 1,122,676 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 valued at $142,170,000 after acquiring an additional 469,500 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Performance Food Group by 27.8% in 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 in the last quarter. Eminence Capital LP increased its position in shares of 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 during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Performance Food Group by 574.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 173,381 shares of the food distribution company’s stock worth $11,462,000 after purchasing an additional 147,681 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In other news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is owned by insiders.

Performance Food Group Price Performance

NYSE:PFGC opened at $80.86 on Friday. The firm has a market cap of $12.60 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.45. Performance Food Group has a 12 month low of $58.79 and a 12 month high of $83.70. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $77.86 and its two-hundred day moving average price is $71.61.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on PFGC shares. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Truist Financial raised their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average price target of $90.88.

Performance Food Group 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.