Performance Food Group Company $PFGC Shares Acquired by Inceptionr LLC

Inceptionr LLC boosted its stake in Performance Food Group Company (NYSE:PFGC) by 51.4% in the first quarter, Holdings Channel.com reports. The firm owned 15,117 shares of the food distribution company’s stock after acquiring an additional 5,130 shares during the quarter. Inceptionr LLC’s holdings in Performance Food Group were worth $1,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFGC. Goldman Sachs Group Inc. raised its stake in Performance Food Group by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after purchasing an additional 184,066 shares during the period. Empowered Funds LLC purchased a new stake in shares of Performance Food Group during the 1st quarter valued at $359,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 worth $58,000 after buying an additional 537 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Performance Food Group during the 2nd quarter worth $230,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of 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 worth $28,764,000 after buying an additional 273,997 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PFGC. Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Guggenheim upped their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Morgan Stanley raised their price objective on Performance Food Group from $120.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Citigroup lifted their price objective on Performance Food Group from $135.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays boosted their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.82.

Insider Buying and Selling

In other news, insider A Brent King sold 6,111 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares in the company, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erika T. Davis sold 2,595 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider owned 40,446 shares in the company, valued at approximately $4,449,060. The trade was a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,187 shares of company stock worth $3,027,315. Company insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $110.23 on Friday. 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 company has a market cap of $17.32 billion, a PE ratio of 52.49, a P/E/G ratio of 1.40 and a beta of 0.91. The company’s fifty day simple moving average is $104.37 and its 200-day simple moving average is $95.75. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $116.42.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current year.

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.