Atom Investors LP Buys 9,839 Shares of Performance Food Group Company $PFGC

Atom Investors LP lifted its stake in Performance Food Group Company (NYSE:PFGC) by 18.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 61,856 shares of the food distribution company’s stock after purchasing an additional 9,839 shares during the period. Atom Investors LP’s holdings in Performance Food Group were worth $5,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFGC. Norges Bank purchased a new position in shares of Performance Food Group in the fourth quarter worth approximately $208,170,000. Wellington Management Group LLP boosted its holdings in shares of Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after buying an additional 1,964,799 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock worth $275,400,000 after buying an additional 1,168,869 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Performance Food Group in the fourth quarter worth approximately $81,020,000. Finally, UBS Group AG boosted its holdings in shares of Performance Food Group by 246.4% in the third quarter. UBS Group AG now owns 1,158,288 shares of the food distribution company’s stock worth $120,508,000 after buying an additional 823,882 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $104.55 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $109.05. The company has a market capitalization of $16.42 billion, a P/E ratio of 49.78, a P/E/G ratio of 1.63 and a beta of 0.93. The firm’s 50 day simple moving average is $93.74 and its two-hundred day simple moving average is $92.43.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts expect that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Insider Activity

In other Performance Food Group news, insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the transaction, the insider owned 44,655 shares of the company’s stock, valued at $4,221,683.70. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A Brent King sold 6,111 shares of Performance Food Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the transaction, the insider directly owned 44,260 shares in the company, valued at $4,647,300. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,592 shares of company stock worth $2,741,865 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PFGC. Citigroup raised their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays raised their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus 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.