Hudson Bay Capital Management LP Purchases 25,977 Shares of Performance Food Group Company $PFGC

Hudson Bay Capital Management LP lifted its position in shares of Performance Food Group Company (NYSE:PFGC) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,047 shares of the food distribution company’s stock after purchasing an additional 25,977 shares during the period. Hudson Bay Capital Management LP’s holdings in Performance Food Group were worth $10,929,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Root Financial Partners LLC purchased a new position in Performance Food Group during the 3rd quarter valued at about $39,000. Eastern Bank purchased a new stake in Performance Food Group in the 3rd quarter worth approximately $47,000. Mather Group LLC. purchased a new stake in Performance Food Group in the 3rd quarter worth approximately $55,000. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 537 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Performance Food Group by 55.4% during the third quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company’s stock valued at $59,000 after buying an additional 201 shares during the period. 96.87% of the stock is owned by institutional investors.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $83.70 on Friday. Performance Food Group Company has a 1 year low of $68.39 and a 1 year high of $109.05. The firm’s 50-day moving average is $93.27 and its 200 day moving average is $96.29. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 1.19 and a beta of 0.91. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data 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). The firm had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. Sell-side analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the sale, the insider owned 6,601 shares of the company’s stock, valued at $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PFGC. Citigroup decreased their target price on Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a report on Friday, February 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. 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. Barclays decreased their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, UBS Group dropped their target price on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Performance Food Group has an average rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group 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.