Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $2.66 Million in Performance Food Group Company $PFGC

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Performance Food Group Company (NYSE:PFGC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 29,596 shares of the food distribution company’s stock, valued at approximately $2,661,000.

A number of other hedge funds also recently made changes to their positions in PFGC. Root Financial Partners LLC bought a new stake in shares of Performance Food Group during the 3rd quarter worth $39,000. Torren Management LLC purchased a new position in Performance Food Group in the 4th quarter worth $41,000. EverSource Wealth Advisors LLC raised its position in Performance Food Group by 440.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 537 shares during the period. Parkside Financial Bank & Trust raised its position in Performance Food Group by 55.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company’s stock worth $59,000 after purchasing an additional 201 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Performance Food Group in the 4th quarter worth $62,000. 96.87% of the stock is owned by institutional investors.

Insider Activity

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the transaction, the insider owned 44,655 shares in the company, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PFGC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Morgan Stanley decreased their target price on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a research report on Thursday, May 7th. Finally, Barclays lifted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Performance Food Group Price Performance

PFGC stock opened at $94.66 on Thursday. The firm’s 50-day moving average price is $88.76 and its two-hundred day moving average price is $92.14. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $109.05. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 1.47 and a beta of 0.92. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current year.

About Performance Food Group

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.