Performance Food Group (NYSE:PFGC) Shares Purchased by Commerce Bank

Commerce Bank raised its stake in Performance Food Group (NYSE:PFGC) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,785 shares of the food distribution company’s stock after purchasing an additional 1,293 shares during the quarter. Commerce Bank’s holdings in Performance Food Group were worth $8,290,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in Performance Food Group by 3.2% in the third quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock valued at $354,000 after buying an additional 139 shares during the period. Creative Planning raised its stake in shares of Performance Food Group by 1.2% in the 3rd quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock valued at $916,000 after acquiring an additional 140 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Performance Food Group by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock valued at $469,000 after acquiring an additional 160 shares in the last quarter. Cetera Investment Advisers boosted its position in Performance Food Group by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after purchasing an additional 186 shares during the period. Finally, Blue Trust Inc. increased its holdings in Performance Food Group by 281.4% in the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after purchasing an additional 242 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Performance Food Group stock opened at $86.39 on Friday. The company has a market cap of $13.46 billion, a PE ratio of 31.88, a P/E/G ratio of 0.89 and a beta of 1.44. Performance Food Group has a 12 month low of $61.59 and a 12 month high of $89.00. The company has a fifty day moving average price of $81.05 and a two-hundred day moving average price of $73.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.22 billion. During the same period in the prior year, the company earned $1.15 EPS. Performance Food Group’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts expect that Performance Food Group will post 4.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PFGC shares. Deutsche Bank Aktiengesellschaft upped their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. UBS Group boosted their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” 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. Finally, BMO Capital Markets boosted their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

Insider Transactions at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

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.