Bridgefront Capital LLC Acquires Shares of 9,497 Performance Food Group Company $PFGC

Bridgefront Capital LLC bought a new stake in shares of Performance Food Group Company (NYSE:PFGC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,497 shares of the food distribution company’s stock, valued at approximately $988,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new position in Performance Food Group in the third quarter valued at about $39,000. Eastern Bank purchased a new stake in Performance Food Group during the 3rd quarter worth approximately $47,000. Mather Group LLC. purchased a new stake in Performance Food Group during the 3rd quarter worth approximately $55,000. Parkside Financial Bank & Trust raised its position in shares of Performance Food Group by 55.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company’s stock valued at $59,000 after purchasing an additional 201 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 537 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Shares of PFGC opened at $88.19 on Friday. The stock has a market capitalization of $13.83 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The business’s fifty day moving average price is $93.43 and its 200 day moving average price is $96.70. 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 12-month low of $68.39 and a 12-month high of $109.05.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The business had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Equities research analysts forecast that Performance Food Group Company will post 4.58 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the business’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 $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PFGC shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. UBS Group cut their price target on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Morgan Stanley decreased their price objective 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. Guggenheim reissued a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Nine research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.44.

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.