MQS Management LLC Makes New Investment in Performance Food Group Company $PFGC

MQS Management LLC bought a new position in shares of Performance Food Group Company (NYSE:PFGC) in the fourth quarter, Holdings Channel reports. The firm bought 6,590 shares of the food distribution company’s stock, valued at approximately $593,000.

A number of other institutional investors have also recently bought and sold shares of PFGC. Goldman Sachs Group Inc. grew its holdings in Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after acquiring an additional 184,066 shares during the period. Empowered Funds LLC acquired a new stake in Performance Food Group during the 1st quarter worth $359,000. EverSource Wealth Advisors LLC grew its holdings in Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after acquiring an additional 537 shares during the period. Marshall Wace LLP acquired a new stake in Performance Food Group during the 2nd quarter worth $230,000. Finally, Qube Research & Technologies Ltd grew its holdings in Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock worth $28,764,000 after acquiring an additional 273,997 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

PFGC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Friday, March 27th. Morgan Stanley reduced their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Citigroup lifted their price target 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. Finally, UBS Group reduced 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 research report on Thursday, February 5th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Insider Buying and Selling at Performance Food Group

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the sale, the insider directly owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares in the company, valued at $1,133,825. This represents a 17.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.50% of the company’s stock.

Performance Food Group Trading Down 1.5%

Shares of NYSE PFGC opened at $93.71 on Friday. The company’s fifty day moving average is $89.04 and its 200-day moving average is $92.14. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 44.62, a P/E/G ratio of 1.49 and a beta of 0.92. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $109.05. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

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 for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $16.29 billion for the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts predict that Performance Food Group Company will post 4.57 EPS for the current year.

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.