Primecap Management Co. CA Purchases 473,050 Shares of Performance Food Group (NYSE:PFGC)

Primecap Management Co. CA boosted its stake in shares of Performance Food Group (NYSE:PFGC) by 29.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,098,330 shares of the food distribution company’s stock after purchasing an additional 473,050 shares during the quarter. Primecap Management Co. CA’s holdings in Performance Food Group were worth $164,446,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PFGC. Blair William & Co. IL bought a new stake in Performance Food Group during the first quarter worth approximately $213,000. O Shaughnessy Asset Management LLC boosted its position in shares of Performance Food Group by 21.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,625 shares of the food distribution company’s stock valued at $644,000 after acquiring an additional 1,551 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Performance Food Group in the first quarter valued at approximately $179,000. Magnetar Financial LLC bought a new stake in shares of Performance Food Group in the first quarter valued at approximately $1,913,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Performance Food Group by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,054,625 shares of the food distribution company’s stock valued at $78,718,000 after acquiring an additional 16,580 shares during the period. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of PFGC stock opened at $86.39 on Friday. The stock’s fifty day moving average is $81.05 and its 200-day moving average is $73.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. The stock has a market capitalization of $13.46 billion, a PE ratio of 31.88, a PEG ratio of 0.89 and a beta of 1.44. Performance Food Group has a 52 week low of $61.59 and a 52 week high of $89.00.

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

Insider Activity at Performance Food Group

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

Analyst Ratings Changes

PFGC has been the subject of several research reports. Guggenheim increased their price objective on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Truist Financial upped their target price on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their target price on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price objective on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

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.