Vaughan Nelson Investment Management L.P. Boosts Holdings in Performance Food Group (NYSE:PFGC)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of Performance Food Group (NYSE:PFGC) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,816 shares of the food distribution company’s stock after acquiring an additional 55,445 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Performance Food Group were worth $43,952,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blue Trust Inc. increased its position in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Performance Food Group during the 3rd quarter valued at $26,000. Innealta Capital LLC acquired a new stake in shares of Performance Food Group during the 2nd quarter worth $30,000. Venturi Wealth Management LLC raised its position in shares of Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Shares of PFGC stock opened at $83.20 on Friday. The firm has a fifty day simple moving average of $80.06 and a 200-day simple moving average of $72.73. The company has a market capitalization of $12.96 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. Performance Food Group has a twelve month low of $61.29 and a twelve month high of $89.00. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last posted 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 firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.22 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Performance Food Group will post 4.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the 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 transaction, the director now directly owns 10,184 shares in the company, valued at $749,644.24. This represents a 28.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the completion of the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The trade was a 14.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock worth $7,426,075 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PFGC shares. Deutsche Bank Aktiengesellschaft upped their price target on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Guggenheim lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays increased their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial lifted their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $94.50.

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.