Quarry LP Grows Position in Performance Food Group (NYSE:PFGC)

Quarry LP boosted its stake in Performance Food Group (NYSE:PFGC) by 114.4% in the second quarter, Holdings Channel.com reports. The firm owned 2,513 shares of the food distribution company’s stock after acquiring an additional 1,341 shares during the quarter. Quarry LP’s holdings in Performance Food Group were worth $166,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Performance Food Group in the first quarter valued at approximately $29,000. Innealta Capital LLC purchased a new stake in Performance Food Group in the second quarter valued at approximately $30,000. Mather Group LLC. purchased a new stake in Performance Food Group in the first quarter valued at approximately $44,000. GAMMA Investing LLC grew its holdings in Performance Food Group by 65.2% in the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 349 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Performance Food Group in the second quarter valued at approximately $105,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Truist Financial boosted their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets boosted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Performance Food Group Trading Up 0.2 %

NYSE PFGC opened at $78.35 on Tuesday. The company’s fifty day simple moving average is $71.89 and its 200-day simple moving average is $70.32. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $79.59. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market cap of $12.19 billion, a P/E ratio of 29.24, a PEG ratio of 0.85 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts predict that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Transactions at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Scott E. Mcpherson sold 25,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.64, for a total value of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,500 shares of company stock valued at $7,426,075. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.