Interval Partners LP Acquires 210,905 Shares of Performance Food Group Company $PFGC

Interval Partners LP lifted its stake in Performance Food Group Company (NYSE:PFGC) by 78.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,327 shares of the food distribution company’s stock after acquiring an additional 210,905 shares during the period. Performance Food Group accounts for 0.8% of Interval Partners LP’s portfolio, making the stock its 24th largest position. Interval Partners LP owned 0.31% of Performance Food Group worth $50,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after buying an additional 1,964,799 shares in the last quarter. Norges Bank purchased a new stake in Performance Food Group during the second quarter valued at approximately $163,954,000. Massachusetts Financial Services Co. MA acquired a new stake in Performance Food Group in the third quarter valued at approximately $152,717,000. Invesco Ltd. grew its holdings in Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Finally, UBS Group AG grew its holdings in Performance Food Group by 246.4% in the third quarter. UBS Group AG now owns 1,158,288 shares of the food distribution company’s stock worth $120,508,000 after purchasing an additional 823,882 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Price Performance

NYSE:PFGC opened at $88.19 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The stock has a 50 day moving average of $93.43 and a two-hundred day moving average of $96.73. The firm has a market cap of $13.83 billion, a P/E ratio of 40.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91. Performance Food Group Company has a 12 month low of $68.39 and a 12 month 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 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PFGC shares. Citigroup cut their price objective on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Barclays cut their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Morgan Stanley cut their target price on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average target price of $116.44.

Insider Transactions at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction dated 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 sale, the insider owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

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.