Quantbot Technologies LP Acquires New Shares in Performance Food Group Company $PFGC

Quantbot Technologies LP bought a new position in Performance Food Group Company (NYSE:PFGC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 9,285 shares of the food distribution company’s stock, valued at approximately $966,000.

A number of other hedge funds have also recently made changes to their positions in the company. AE Wealth Management LLC bought a new position in Performance Food Group in the 3rd quarter valued at approximately $1,666,000. Norges Bank bought a new stake in Performance Food Group during the 2nd quarter worth approximately $163,954,000. Braun Stacey Associates Inc. acquired a new position in Performance Food Group in the 3rd quarter valued at approximately $13,055,000. Strs Ohio raised its stake in shares of Performance Food Group by 54.4% during the third quarter. Strs Ohio now owns 149,751 shares of the food distribution company’s stock valued at $15,580,000 after acquiring an additional 52,734 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Performance Food Group by 22.1% during the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock valued at $224,930,000 after acquiring an additional 465,807 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 directly owned 6,601 shares of the company’s stock, valued at $607,490.03. This 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 can be accessed through the SEC website. 4.50% of the stock is owned by insiders.

Performance Food Group Trading Down 2.8%

NYSE PFGC opened at $87.48 on Friday. The stock has a market capitalization of $13.72 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.27 and a beta of 0.91. The business has a 50 day simple moving average of $93.66 and a 200 day simple moving average of $97.18. 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 Company has a one year low of $68.39 and a one year high of $109.05.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.09). The business had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. Performance Food Group’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Research analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PFGC shares. Guggenheim reissued a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Zacks Research lowered Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Piper Sandler lowered their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. UBS Group decreased 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. Finally, Citigroup dropped their price target on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average price target of $116.44.

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.