Performance Food Group Company $PFGC Stock Holdings Lifted by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its position in Performance Food Group Company (NYSE:PFGC) by 103.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,514,841 shares of the food distribution company’s stock after purchasing an additional 769,013 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Performance Food Group were worth $136,215,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Performance Food Group by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock worth $1,134,000 after buying an additional 113 shares during the last quarter. Arax Advisory Partners increased its position in Performance Food Group by 7.4% during the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock worth $184,000 after buying an additional 140 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Performance Food Group by 16.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after buying an additional 143 shares during the last quarter. US Bancorp DE increased its position in Performance Food Group by 4.6% during the third quarter. US Bancorp DE now owns 3,283 shares of the food distribution company’s stock worth $342,000 after buying an additional 144 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in Performance Food Group by 6.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock worth $243,000 after buying an additional 173 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Down 1.2%

PFGC stock opened at $103.23 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $109.05. The company has a 50-day moving average of $94.09 and a two-hundred day moving average of $92.48. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last released 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. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The company 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 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current year.

Insider Activity

In other Performance Food Group news, insider Erika T. Davis sold 1,750 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $183,750.00. Following the completion of the sale, the insider directly owned 43,041 shares in the company, valued at $4,519,305. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider A Brent King sold 6,111 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the sale, the insider owned 44,260 shares of the company’s stock, valued at $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,592 shares of company stock valued at $2,741,865 over the last three months. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on PFGC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a research report on Thursday, May 7th. Barclays increased their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Citigroup increased their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

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.