Engineers Gate Manager LP Purchases 167,361 Shares of Performance Food Group Company $PFGC

Engineers Gate Manager LP increased its position in Performance Food Group Company (NYSE:PFGC) by 77.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 384,143 shares of the food distribution company’s stock after acquiring an additional 167,361 shares during the quarter. Performance Food Group accounts for 0.6% of Engineers Gate Manager LP’s holdings, making the stock its 22nd largest position. Engineers Gate Manager LP’s holdings in Performance Food Group were worth $42,943,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Performance Food Group by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after acquiring an additional 121 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Performance Food Group by 3.8% during the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after acquiring an additional 122 shares during the last quarter. Arax Advisory Partners raised its stake in shares of Performance Food Group by 7.4% during the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock valued at $184,000 after acquiring an additional 140 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Performance Food Group by 16.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after purchasing an additional 143 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Performance Food Group by 6.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock worth $243,000 after purchasing an additional 173 shares during the period. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PFGC. Morgan Stanley increased their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. TD Cowen cut their target price on Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company upped their price target on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Guggenheim increased their price target on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.90.

Insiders Place Their Bets

In other Performance Food Group news, insider Donald S. Bulmer sold 1,353 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $142,457.37. Following the transaction, the insider directly owned 52,938 shares in the company, valued at approximately $5,573,842.02. This represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider A. King sold 1,320 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the sale, the insider directly owned 44,216 shares of the company’s stock, valued at approximately $4,655,502.64. This trade represents a 2.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 50,910 shares of company stock valued at $5,335,910 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $96.83 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average price of $108.75 and a two-hundred day moving average price of $98.77. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The company has a market cap of $15.25 billion, a P/E ratio of 42.28, a PEG ratio of 1.26 and a beta of 0.88.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts anticipate that Performance Food Group Company will post 5.6 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.