Performance Food Group Company $PFGC Stock Position Lowered by VELA Investment Management LLC

VELA Investment Management LLC lessened its position in Performance Food Group Company (NYSE:PFGC) by 27.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,194 shares of the food distribution company’s stock after selling 12,089 shares during the quarter. VELA Investment Management LLC’s holdings in Performance Food Group were worth $2,805,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in shares of Performance Food Group in the 3rd quarter valued at approximately $39,000. Torren Management LLC purchased a new stake in shares of Performance Food Group in the 4th quarter valued at approximately $41,000. Eastern Bank purchased a new stake in shares of Performance Food Group in the 3rd quarter valued at approximately $47,000. Mather Group LLC. purchased a new stake in shares of Performance Food Group in the 3rd quarter valued at approximately $55,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of 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 valued at $59,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Activity at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction 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 transaction, the insider owned 6,601 shares in the company, valued at $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PFGC has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Barclays dropped their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Finally, UBS Group dropped their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.44.

Performance Food Group Stock Performance

Shares of PFGC opened at $88.72 on Friday. The company’s fifty day moving average is $88.62 and its 200-day moving average is $92.76. Performance Food Group Company has a 12 month low of $77.44 and a 12 month high of $109.05. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate 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 business had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.54 billion. During the same quarter last year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that Performance Food Group Company will post 4.59 EPS for the current fiscal year.

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.