Nuveen LLC Takes Position in Performance Food Group Company (NYSE:PFGC)

Nuveen LLC purchased a new stake in shares of Performance Food Group Company (NYSE:PFGC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 883,329 shares of the food distribution company’s stock, valued at approximately $69,456,000.

Other institutional investors have also recently made changes to their positions in the company. CENTRAL TRUST Co lifted its position in shares of Performance Food Group by 476.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company’s stock valued at $39,000 after buying an additional 405 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Performance Food Group by 203.7% during the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company’s stock valued at $40,000 after purchasing an additional 334 shares during the period. Signaturefd LLC raised its stake in shares of Performance Food Group by 60.9% during the 1st quarter. Signaturefd LLC now owns 830 shares of the food distribution company’s stock valued at $65,000 after purchasing an additional 314 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Performance Food Group by 353.5% during the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company’s stock valued at $71,000 after purchasing an additional 707 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Performance Food Group by 34,133.3% during the 1st quarter. Versant Capital Management Inc now owns 1,027 shares of the food distribution company’s stock valued at $81,000 after purchasing an additional 1,024 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFGC. Wells Fargo & Company set a $115.00 price objective on Performance Food Group and gave the company an “overweight” rating in a research note on Wednesday. Citigroup began coverage on Performance Food Group in a research note on Thursday, May 22nd. They set a “buy” rating and a $121.00 price objective on the stock. Wall Street Zen lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 6th. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an “overweight” rating in a research note on Thursday, May 29th. Finally, Truist Financial decreased their price objective on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.38.

Insider Activity

In other news, insider A Brent King sold 12,866 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the transaction, the insider directly owned 60,952 shares in the company, valued at approximately $5,486,899.04. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hugh Patrick Hatcher sold 2,000 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the transaction, the insider owned 35,239 shares in the company, valued at $3,347,705. This trade represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 65,059 shares of company stock worth $5,861,405. 2.80% of the stock is currently owned by insiders.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $101.37 on Thursday. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $15.82 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The business’s 50-day moving average price is $92.92 and its 200-day moving average price is $85.81. Performance Food Group Company has a 12 month low of $68.39 and a 12 month high of $103.50.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 13th. The food distribution company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $16.85 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 EPS. Sell-side analysts forecast that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

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.