Inspire Investing LLC Makes New Investment in Performance Food Group (NYSE:PFGC)

Inspire Investing LLC bought a new stake in Performance Food Group (NYSE:PFGC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,632 shares of the food distribution company’s stock, valued at approximately $814,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in Performance Food Group by 3.2% in the third quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock valued at $354,000 after purchasing an additional 139 shares during the last quarter. Creative Planning raised its position in shares of Performance Food Group by 1.2% in the third quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock worth $916,000 after buying an additional 140 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Performance Food Group by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company’s stock worth $329,000 after buying an additional 142 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Performance Food Group by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock worth $469,000 after buying an additional 160 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Performance Food Group by 0.4% in the second quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock worth $3,044,000 after buying an additional 186 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Performance Food Group Stock Performance

Performance Food Group stock opened at $88.88 on Friday. The stock’s 50 day simple moving average is $86.57 and its two-hundred day simple moving average is $78.76. 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 cap of $13.85 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 0.96 and a beta of 1.43. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

Performance Food Group (NYSE:PFGC) last posted 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 during the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. As a group, analysts expect that Performance Food Group will post 4.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFGC. BMO Capital Markets increased their target price 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. UBS Group raised their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Melius Research raised Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Finally, Guggenheim increased their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Four investment analysts have 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 presently has an average rating of “Moderate Buy” and an average target price of $94.67.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the transaction, the insider now owns 172,372 shares in the company, valued at approximately $14,582,671.20. This represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate 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.