115,000 Shares in Performance Food Group Company $PFGC Bought by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP acquired a new position in Performance Food Group Company (NYSE:PFGC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 115,000 shares of the food distribution company’s stock, valued at approximately $12,856,000. Performance Food Group makes up approximately 1.4% of Pinnbrook Capital Management LP’s investment portfolio, making the stock its 21st biggest holding. Pinnbrook Capital Management LP owned approximately 0.07% of Performance Food Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $62,266,000 after buying an additional 184,066 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Performance Food Group in the 1st quarter worth about $359,000. EverSource Wealth Advisors LLC increased its stake 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 worth $58,000 after acquiring an additional 537 shares in the last quarter. Marshall Wace LLP purchased a new position in Performance Food Group during the 2nd quarter valued at about $230,000. Finally, Qube Research & Technologies Ltd lifted its position 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 valued at $28,764,000 after acquiring an additional 273,997 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Activity at Performance Food Group

In related news, insider A Brent King sold 6,111 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the transaction, the insider directly owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. This represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Erika T. Davis sold 2,595 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.00, for a total value of $285,450.00. Following the sale, the insider owned 40,446 shares in the company, valued at approximately $4,449,060. This represents a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,583 shares of company stock valued at $2,913,872. 4.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Guggenheim lifted their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 29th. Citigroup boosted their price target on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. BMO Capital Markets restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Finally, Morgan Stanley raised their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average price target of $126.90.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $104.99 on Friday. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47. The company’s 50-day moving average is $110.09 and its 200 day moving average is $98.24.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The firm had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.11 billion. During the same period last year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts expect that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

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.