MBL Wealth LLC Purchases 6,195 Shares of Performance Food Group Company $PFGC

MBL Wealth LLC acquired a new stake in Performance Food Group Company (NYSE:PFGC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,195 shares of the food distribution company’s stock, valued at approximately $567,000.

Several other hedge funds have also added to or reduced their stakes in PFGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Performance Food Group by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock valued at $3,372,000 after acquiring an additional 121 shares during the period. HB Wealth Management LLC raised its position in shares of Performance Food Group by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock worth $285,000 after purchasing an additional 122 shares during the period. Net Worth Advisory Group raised its position in shares of Performance Food Group by 1.7% during the third quarter. Net Worth Advisory Group now owns 7,691 shares of the food distribution company’s stock worth $706,000 after purchasing an additional 132 shares during the period. Trust Point Inc. raised its position in shares of Performance Food Group by 7.2% during the second quarter. Trust Point Inc. now owns 2,564 shares of the food distribution company’s stock worth $287,000 after purchasing an additional 173 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Performance Food Group by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,472 shares of the food distribution company’s stock valued at $835,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $94.63 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 1.22 and a beta of 0.87. The stock’s 50-day moving average is $96.39 and its 200-day moving average is $99.87. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The firm had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Equities analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other news, insider Donald S. Bulmer sold 10,535 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $105.90, for a total value of $1,115,656.50. Following the sale, the insider owned 54,291 shares of the company’s stock, valued at $5,749,416.90. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the transaction, the insider owned 58,167 shares of the company’s stock, valued at $5,769,003.06. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,459 shares of company stock valued at $4,317,917 over the last quarter. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

PFGC has been the subject of several research analyst reports. TD Cowen decreased their price objective on Performance Food Group from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Citigroup raised their target price on shares of Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings lowered shares of Performance Food Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. Guggenheim lifted their price target on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, UBS Group reduced their price target on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.00.

Performance Food Group Profile

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.