Point72 Asset Management L.P. Increases Position in Performance Food Group Co (NYSE:PFGC)

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Point72 Asset Management L.P. boosted its holdings in Performance Food Group Co (NYSE:PFGC) by 33.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,500 shares of the food distribution company’s stock after purchasing an additional 45,538 shares during the quarter. Point72 Asset Management L.P.’s holdings in Performance Food Group were worth $8,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Penserra Capital Management LLC bought a new position in Performance Food Group during the third quarter valued at approximately $642,000. California State Teachers Retirement System increased its holdings in Performance Food Group by 1.4% during the third quarter. California State Teachers Retirement System now owns 166,121 shares of the food distribution company’s stock valued at $7,643,000 after buying an additional 2,321 shares during the last quarter. Stifel Financial Corp increased its holdings in Performance Food Group by 23.0% during the third quarter. Stifel Financial Corp now owns 9,738 shares of the food distribution company’s stock valued at $449,000 after buying an additional 1,819 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Performance Food Group by 8.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,555,700 shares of the food distribution company’s stock valued at $71,578,000 after buying an additional 115,035 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Performance Food Group by 41.2% during the third quarter. TimesSquare Capital Management LLC now owns 843,800 shares of the food distribution company’s stock valued at $38,823,000 after buying an additional 246,350 shares during the last quarter. Institutional investors and hedge funds own 95.29% of the company’s stock.

PFGC has been the subject of a number of research reports. Bank of America upped their target price on shares of Performance Food Group from $45.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Guggenheim reaffirmed a “buy” rating and set a $50.00 target price (up from $46.00) on shares of Performance Food Group in a report on Thursday, August 15th. BMO Capital Markets upped their target price on shares of Performance Food Group to $52.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Loop Capital increased their price objective on shares of Performance Food Group to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Zacks Investment Research raised shares of Performance Food Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Performance Food Group currently has a consensus rating of “Buy” and a consensus target price of $47.67.

In related news, insider Patrick T. Hagerty sold 7,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $46.57, for a total transaction of $325,990.00. Following the completion of the transaction, the insider now directly owns 138,406 shares of the company’s stock, valued at $6,445,567.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Howard Hoskins sold 14,682 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $44.87, for a total transaction of $658,781.34. Following the transaction, the insider now directly owns 121,475 shares of the company’s stock, valued at $5,450,583.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,691 shares of company stock valued at $1,731,637. Corporate insiders own 3.40% of the company’s stock.

Shares of NYSE PFGC opened at $47.06 on Monday. The firm has a fifty day moving average price of $44.27 and a 200-day moving average price of $43.28. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.07 and a quick ratio of 1.29. The stock has a market cap of $5.01 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. Performance Food Group Co has a 1 year low of $30.07 and a 1 year high of $47.67.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.15. The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Performance Food Group had a net margin of 0.81% and a return on equity of 16.71%. The company’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. On average, research analysts expect that Performance Food Group Co will post 2.07 EPS for the current year.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.

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Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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