Performance Food Group Company $PFGC Shares Acquired by Inceptionr LLC

Inceptionr LLC increased its position in Performance Food Group Company (NYSE:PFGC) by 100.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,976 shares of the food distribution company’s stock after purchasing an additional 7,505 shares during the period. Inceptionr LLC’s holdings in Performance Food Group were worth $1,558,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC acquired a new stake in shares of Performance Food Group in the third quarter valued at approximately $1,666,000. Norges Bank acquired a new position in shares of Performance Food Group in the 2nd quarter valued at $163,954,000. Braun Stacey Associates Inc. purchased a new stake in Performance Food Group in the 3rd quarter valued at $13,055,000. Strs Ohio boosted its stake in Performance Food Group by 54.4% during the 3rd quarter. Strs Ohio now owns 149,751 shares of the food distribution company’s stock worth $15,580,000 after purchasing an additional 52,734 shares during the period. Finally, Primecap Management Co. CA boosted its stake in Performance Food Group by 22.1% during the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after purchasing an additional 465,807 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PFGC. Guggenheim restated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Barclays dropped their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Piper Sandler reduced their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Finally, UBS Group lowered their target price on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.44.

Performance Food Group Stock Down 2.8%

Shares of NYSE:PFGC opened at $87.48 on Monday. Performance Food Group Company has a fifty-two week low of $68.39 and a fifty-two week high of $109.05. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The firm’s 50-day simple moving average is $93.66 and its 200-day simple moving average is $97.14. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.23 and a beta of 0.91.

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

Insider Buying and Selling at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider directly owned 6,601 shares of the company’s stock, valued at $607,490.03. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.50% of the stock is currently owned by company insiders.

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.