Hudson Bay Capital Management LP Buys 25,977 Shares of Performance Food Group Company $PFGC

Hudson Bay Capital Management LP lifted its position in Performance Food Group Company (NYSE:PFGC) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,047 shares of the food distribution company’s stock after buying an additional 25,977 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.07% of Performance Food Group worth $10,929,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PFGC. PNC Financial Services Group Inc. increased its holdings in Performance Food Group by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock worth $1,134,000 after acquiring an additional 113 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Performance Food Group by 0.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 36,752 shares of the food distribution company’s stock valued at $3,215,000 after purchasing an additional 125 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Performance Food Group by 1.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,124 shares of the food distribution company’s stock valued at $711,000 after purchasing an additional 131 shares during the period. US Bancorp DE grew its position in shares of Performance Food Group by 4.6% during the 3rd quarter. US Bancorp DE now owns 3,283 shares of the food distribution company’s stock valued at $342,000 after purchasing an additional 144 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its holdings in shares of Performance Food Group by 0.8% in the second quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company’s stock worth $2,183,000 after purchasing an additional 189 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Morgan Stanley reduced their target price on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Citigroup decreased their target price on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Zacks Research cut Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Finally, Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Activity at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the transaction, the insider directly owned 6,601 shares of the company’s stock, valued at $607,490.03. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is currently owned by insiders.

Performance Food Group Trading Down 1.1%

Shares of PFGC stock opened at $83.70 on Friday. The business has a 50-day moving average of $93.27 and a 200 day moving average of $96.29. 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 1-year low of $68.39 and a 1-year high of $109.05. The stock has a market capitalization of $13.13 billion, a PE ratio of 38.05, a P/E/G ratio of 1.19 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 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 company had revenue of $16.44 billion during the quarter, compared to analysts’ expectations of $16.54 billion. During the same period last year, the firm earned $0.98 earnings per share. Performance Food Group’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current 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.