Kennedy Capital Management LLC Increases Stake in Performance Food Group Company $PFGC

Kennedy Capital Management LLC increased its position in Performance Food Group Company (NYSE:PFGC) by 7.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 207,351 shares of the food distribution company’s stock after acquiring an additional 14,173 shares during the quarter. Kennedy Capital Management LLC’s holdings in Performance Food Group were worth $18,645,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after buying an additional 184,066 shares in the last quarter. Empowered Funds LLC purchased a new position in Performance Food Group during the 1st quarter valued at about $359,000. EverSource Wealth Advisors LLC grew its holdings in Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after buying an additional 537 shares in the last quarter. Marshall Wace LLP purchased a new position in Performance Food Group during the 2nd quarter valued at about $230,000. Finally, Qube Research & Technologies Ltd grew its holdings in Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after buying an additional 273,997 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFGC. Citigroup lifted their target price on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Finally, Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.00.

Insider Transactions at Performance Food Group

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider owned 44,655 shares in the company, valued at $4,221,683.70. The trade was a 6.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the sale, the director owned 11,935 shares of the company’s stock, valued at $1,133,825. The trade was a 17.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,731 shares of company stock worth $1,916,460. 4.50% of the stock is owned by corporate insiders.

Performance Food Group Stock Performance

Shares of PFGC opened at $104.22 on Friday. The company has a market cap of $16.37 billion, a PE ratio of 49.63, a price-to-earnings-growth ratio of 1.63 and a beta of 0.93. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average price of $92.92 and a 200-day moving average price of $92.34. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $109.05.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results 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. The firm had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. As a group, equities analysts forecast that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Performance Food Group Company 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.