Oppenheimer Asset Management Inc. Acquires New Holdings in Performance Food Group Company $PFGC

Oppenheimer Asset Management Inc. bought a new position in Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,559 shares of the food distribution company’s stock, valued at approximately $5,652,000.

A number of other large investors have also added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Performance Food Group by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock valued at $3,372,000 after buying an additional 121 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Performance Food Group by 3.8% in the 1st quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock worth $285,000 after buying an additional 122 shares during the last quarter. Arax Advisory Partners boosted its stake in shares of Performance Food Group by 7.4% in the 4th quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock worth $184,000 after buying an additional 140 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Performance Food Group by 16.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after acquiring an additional 143 shares during the period. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of Performance Food Group by 6.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock worth $243,000 after acquiring an additional 173 shares during the period. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Up 2.5%

Shares of PFGC stock opened at $107.07 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.68. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 1.36 and a beta of 0.91. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $117.47. The firm has a fifty day moving average price of $109.79 and a 200-day moving average price of $97.96.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). The company had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.Performance Food Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kimberly Grant sold 2,500 shares of Performance Food Group stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director directly owned 11,935 shares of the company’s stock, valued at $1,133,825. The trade was a 17.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider A Brent King sold 6,111 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $641,655.00. Following the transaction, the insider owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,187 shares of company stock worth $2,743,695 over the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of recent research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday. Weiss Ratings raised shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $133.00 price target on shares of Performance Food Group in a research report on Thursday. Finally, Guggenheim increased their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.90.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.