Atreides Management LP Makes New $11.32 Million Investment in Performance Food Group Company $PFGC

Atreides Management LP acquired a new position in shares of Performance Food Group Company (NYSE:PFGC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 125,901 shares of the food distribution company’s stock, valued at approximately $11,321,000. Atreides Management LP owned about 0.08% of Performance Food Group as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PFGC. Goldman Sachs Group Inc. increased its holdings in shares of Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after acquiring an additional 184,066 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $359,000. EverSource Wealth Advisors LLC increased its holdings in shares of Performance Food Group by 440.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after acquiring an additional 537 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Performance Food Group in the 2nd quarter valued at approximately $230,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after acquiring an additional 273,997 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Performance Food Group news, insider A Brent King sold 6,111 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the transaction, the insider owned 44,260 shares in the company, valued at approximately $4,647,300. The trade was a 12.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider directly owned 44,655 shares in the company, valued at $4,221,683.70. This represents a 6.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 27,592 shares of company stock worth $2,741,865. Insiders own 4.50% of the company’s stock.

Performance Food Group Trading Down 1.2%

Shares of PFGC stock opened at $103.23 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $109.05. The stock has a fifty day moving average of $94.09 and a two-hundred day moving average of $92.48. The firm has a market capitalization of $16.22 billion, a PE 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 announced its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts expect that Performance Food Group Company will post 4.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PFGC. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Citigroup boosted their price target on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays boosted their price objective on Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $123.00 price objective on shares of Performance Food Group in a research report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.00.

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.