Picton Mahoney Asset Management Boosts Holdings in Performance Food Group Company $PFGC

Picton Mahoney Asset Management raised its stake in Performance Food Group Company (NYSE:PFGC) by 33.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,830 shares of the food distribution company’s stock after acquiring an additional 48,508 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.12% of Performance Food Group worth $20,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFGC. Parkside Financial Bank & Trust grew its position in shares of Performance Food Group by 51.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after acquiring an additional 123 shares during the period. Root Financial Partners LLC purchased a new position in Performance Food Group in the third quarter valued at approximately $39,000. AlphaQuest LLC grew its holdings in Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after purchasing an additional 329 shares during the period. Eastern Bank bought a new position in Performance Food Group during the third quarter valued at $47,000. Finally, Golden State Wealth Management LLC increased its position in Performance Food Group by 148.6% in the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after buying an additional 312 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PFGC shares. Barclays dropped their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. UBS Group cut 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. Piper Sandler reduced their target price on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Finally, Guggenheim restated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Buying and Selling

In other news, insider Chasity D. Grosh sold 1,843 shares of the business’s 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 completion of the transaction, the insider directly owned 6,601 shares in the company, valued at $607,490.03. The trade was a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by insiders.

Performance Food Group Stock Down 4.0%

Shares of NYSE PFGC opened at $91.96 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The company has a market cap of $14.42 billion, a P/E ratio of 41.80, a P/E/G ratio of 1.35 and a beta of 0.91. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $109.05. The business has a 50-day simple moving average of $93.80 and a two-hundred day simple moving average of $97.36.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) 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 firm had revenue of $16.44 billion during the quarter, compared to analysts’ expectations of $16.54 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Performance Food Group Company will post 4.58 earnings per share 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.