Performance Food Group (NYSE:PFGC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in Performance Food Group (NYSE:PFGC) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,514 shares of the food distribution company’s stock after purchasing an additional 139 shares during the period. CIBC Asset Management Inc’s holdings in Performance Food Group were worth $354,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Atria Investments Inc lifted its position in Performance Food Group by 79.3% in the first quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after purchasing an additional 12,919 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Performance Food Group during the 2nd quarter worth $6,843,000. Aigen Investment Management LP boosted its position in shares of Performance Food Group by 56.1% in the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock worth $1,330,000 after acquiring an additional 6,099 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Performance Food Group during the first quarter worth about $1,913,000. Finally, Dimensional Fund Advisors LP increased its holdings in Performance Food Group by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after purchasing an additional 469,500 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group lifted their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays increased their price objective on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.27.

Performance Food Group Stock Performance

PFGC opened at $86.39 on Friday. The stock has a market cap of $13.46 billion, a PE ratio of 31.88, a P/E/G ratio of 0.89 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. Performance Food Group has a 1 year low of $61.59 and a 1 year high of $89.00. The stock’s 50 day simple moving average is $81.05 and its 200-day simple moving average is $73.17.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The firm had revenue of $15.42 billion for 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%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Sell-side analysts forecast that Performance Food Group will post 4.73 EPS for the current year.

Insider Activity at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $12,152,310.72. This represents a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.

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.