Moran Wealth Management LLC Buys 39,744 Shares of Performance Food Group (NYSE:PFGC)

Moran Wealth Management LLC boosted its stake in shares of Performance Food Group (NYSE:PFGC) by 73.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 93,667 shares of the food distribution company’s stock after purchasing an additional 39,744 shares during the period. Moran Wealth Management LLC’s holdings in Performance Food Group were worth $7,920,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after purchasing an additional 401,235 shares during the period. Aigen Investment Management LP boosted its position in Performance Food Group by 56.1% during the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock worth $1,330,000 after purchasing an additional 6,099 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Performance Food Group during the third quarter worth about $2,772,000. State Street Corp boosted its position in Performance Food Group by 2.2% during the third quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock worth $360,197,000 after purchasing an additional 97,069 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Performance Food Group by 134.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after purchasing an additional 371,078 shares during the period. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the transaction, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Performance Food Group Trading Down 3.8 %

Shares of PFGC opened at $74.97 on Tuesday. The firm’s 50 day simple moving average is $85.65 and its 200 day simple moving average is $83.06. The company has a market capitalization of $11.71 billion, a P/E ratio of 30.23, a P/E/G ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44.

Performance Food Group (NYSE:PFGC) last announced its earnings results 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%. Sell-side analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PFGC. Melius Research upgraded shares of Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Melius started coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price target on the stock. Morgan Stanley increased their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Barclays lowered their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.73.

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.