Bridgefront Capital LLC Invests $988,000 in Performance Food Group Company $PFGC

Bridgefront Capital LLC purchased a new position in Performance Food Group Company (NYSE:PFGC) during the 3rd quarter, HoldingsChannel reports. The firm purchased 9,497 shares of the food distribution company’s stock, valued at approximately $988,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors grew its stake in Performance Food Group by 0.8% during the 3rd quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock worth $2,335,371,000 after buying an additional 185,624 shares during the last quarter. Wellington Management Group LLP lifted its stake in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Performance Food Group by 8.6% during the second quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after acquiring an additional 244,793 shares during the period. Invesco Ltd. boosted its holdings in shares of Performance Food Group by 79.1% during the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares during the period. Finally, Primecap Management Co. CA grew its position in shares of Performance Food Group by 22.1% during the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after acquiring an additional 465,807 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Up 1.1%

Performance Food Group stock opened at $88.19 on Friday. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $109.05. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 1.24 and a beta of 0.91. The company’s 50-day moving average price is $93.43 and its two-hundred day moving average price is $96.70. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The company had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PFGC has been the topic of several recent research reports. Zacks Research downgraded shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Piper Sandler reduced their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Morgan Stanley decreased their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Finally, Citigroup lowered their target price on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

Insiders Place Their Bets

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the sale, the insider directly owned 6,601 shares in the company, valued at $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

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.