Zions Bancorporation N.A. Increases Stake in Performance Food Group (NYSE:PFGC)

Zions Bancorporation N.A. increased its holdings in shares of Performance Food Group (NYSE:PFGC) by 19.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,466 shares of the food distribution company’s stock after purchasing an additional 4,712 shares during the quarter. Zions Bancorporation N.A.’s holdings in Performance Food Group were worth $2,309,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after buying an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Performance Food Group in the third quarter valued at approximately $26,000. Innealta Capital LLC acquired a new position in shares of Performance Food Group in the second quarter valued at approximately $30,000. Venturi Wealth Management LLC increased its holdings in shares of Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PFGC. Wells Fargo & Company boosted their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. UBS Group upped their price objective on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays upped 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. Deutsche Bank Aktiengesellschaft upped their price objective on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets boosted their target price on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.50.

Insider Activity

In other news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 14.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is currently owned by corporate insiders.

Performance Food Group Stock Performance

Performance Food Group stock opened at $85.76 on Friday. The firm has a market capitalization of $13.36 billion, a P/E ratio of 31.65, a PEG ratio of 0.92 and a beta of 1.44. The stock has a fifty day moving average price of $79.57 and a 200 day moving average price of $72.54. Performance Food Group has a 52 week low of $61.29 and a 52 week high of $89.00. 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 (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). The firm 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%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share. Equities research analysts anticipate that Performance Food Group will post 4.71 earnings per share for the current 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.