SG Americas Securities LLC Boosts Stock Holdings in Performance Food Group (NYSE:PFGC)

Posted by Defense World Staff on Sep 22nd, 2023

SG Americas Securities LLC raised its holdings in shares of Performance Food Group (NYSE:PFGC – Free Report) by 29.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 31,783 shares of the food distribution company’s stock after purchasing an additional 7,278 shares during the period. SG Americas Securities LLC’s holdings in Performance Food Group were worth $1,915,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PFGC. Fifth Third Bancorp increased its position in Performance Food Group by 130.0% during the 1st quarter. Fifth Third Bancorp now owns 460 shares of the food distribution company’s stock valued at $28,000 after purchasing an additional 260 shares during the period. Sageworth Trust Co purchased a new position in shares of Performance Food Group in the 1st quarter worth approximately $38,000. Twin Tree Management LP purchased a new position in shares of Performance Food Group in the 1st quarter worth approximately $44,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Performance Food Group in the 4th quarter worth approximately $46,000. Finally, Smithfield Trust Co purchased a new position in shares of Performance Food Group in the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $60.18 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.04. Performance Food Group has a 12 month low of $42.77 and a 12 month high of $64.34. The company has a 50 day simple moving average of $60.63 and a two-hundred day simple moving average of $59.25. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 23.60 and a beta of 1.37.

Performance Food Group (NYSE:PFGC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 16th. The food distribution company reported $1.14 EPS for the quarter, meeting the consensus estimate of $1.14. Performance Food Group had a net margin of 0.69% and a return on equity of 17.01%. The business had revenue of $14.87 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that Performance Food Group will post 4.5 earnings per share for the current year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 2,000 shares of Performance Food Group stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $59.76, for a total transaction of $119,520.00. Following the completion of the sale, the insider now directly owns 147,790 shares in the company, valued at approximately $8,831,930.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 6,000 shares of company stock worth $362,480. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Performance Food Group from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Morgan Stanley downgraded shares of Performance Food Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $74.00 to $66.00 in a research report on Tuesday, June 20th. StockNews.com initiated coverage on shares of Performance Food Group in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Jefferies Financial Group lifted their price objective on shares of Performance Food Group from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Barclays lifted their target price on shares of Performance Food Group from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.30.

Read Our Latest Report on Performance Food Group

Performance Food Group Profile

(Free Report)

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.