United Services Automobile Association Decreases Position in Performance Food Group (NYSE:PFGC)

United Services Automobile Association decreased its holdings in Performance Food Group (NYSE:PFGC) by 13.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,340 shares of the food distribution company’s stock after selling 1,583 shares during the quarter. United Services Automobile Association’s holdings in Performance Food Group were worth $810,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Cetera Advisors LLC purchased a new stake in shares of Performance Food Group during the first quarter worth approximately $546,000. CWM LLC increased its position in shares of Performance Food Group by 31.5% in the 2nd quarter. CWM LLC now owns 2,758 shares of the food distribution company’s stock valued at $182,000 after purchasing an additional 661 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at $2,257,000. Assenagon Asset Management S.A. purchased a new stake in shares of Performance Food Group during the 2nd quarter worth $6,843,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Performance Food Group by 30.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 505,371 shares of the food distribution company’s stock worth $33,410,000 after purchasing an additional 116,659 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the transaction, the insider now directly owns 192,868 shares in the company, valued at $17,026,387.04. This trade represents a 9.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

PFGC has been the topic of a number of analyst reports. Barclays raised their price target on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Truist Financial raised their target price on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group upped their price target on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.27.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $90.19 on Monday. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 0.96 and a beta of 1.44. The firm’s fifty day simple moving average is $83.69 and its 200-day simple moving average is $74.55.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.15 EPS. As a group, equities analysts forecast that Performance Food Group will post 4.73 earnings per share for the current year.

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.