7,653 Shares in Performance Food Group Company $PFGC Bought by AXQ Capital LP

AXQ Capital LP acquired a new stake in shares of Performance Food Group Company (NYSE:PFGC) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 7,653 shares of the food distribution company’s stock, valued at approximately $796,000.

A number of other institutional investors have also added to or reduced their stakes in PFGC. PNC Financial Services Group Inc. boosted its position in shares of Performance Food Group by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock valued at $1,134,000 after acquiring an additional 113 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Performance Food Group by 0.3% during the second quarter. Thrivent Financial for Lutherans now owns 36,752 shares of the food distribution company’s stock valued at $3,215,000 after purchasing an additional 125 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Performance Food Group by 1.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,124 shares of the food distribution company’s stock valued at $711,000 after purchasing an additional 131 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its stake in Performance Food Group by 0.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company’s stock worth $2,183,000 after buying an additional 189 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PFGC has been the topic of several research reports. Zacks Research cut shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Barclays reduced their target price on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Piper Sandler dropped their price target 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. UBS Group reduced their price objective on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, Morgan Stanley decreased their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Performance Food Group Trading Down 2.2%

NYSE:PFGC opened at $95.71 on Tuesday. The firm has a market capitalization of $15.01 billion, a P/E ratio of 43.50, a P/E/G ratio of 1.38 and a beta of 0.93. 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 company has a fifty day moving average of $93.45 and a 200 day moving average of $97.50. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $109.05.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The firm had revenue of $16.44 billion during the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. Performance Food Group’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, research analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the sale, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

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.