Performance Food Group Company $PFGC is Close Asset Management Ltd’s 6th Largest Position

Close Asset Management Ltd lifted its stake in Performance Food Group Company (NYSE:PFGC) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,080,377 shares of the food distribution company’s stock after purchasing an additional 145,387 shares during the period. Performance Food Group comprises about 4.8% of Close Asset Management Ltd’s investment portfolio, making the stock its 6th largest position. Close Asset Management Ltd owned 1.33% of Performance Food Group worth $216,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in Performance Food Group by 51.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after buying an additional 123 shares during the period. Root Financial Partners LLC bought a new position in Performance Food Group in the third quarter worth approximately $39,000. AlphaQuest LLC increased its holdings in Performance Food Group by 658.0% during the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after purchasing an additional 329 shares during the period. Eastern Bank bought a new stake in Performance Food Group during the 3rd quarter valued at $47,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Performance Food Group by 148.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after buying an additional 312 shares during the period. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

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

Performance Food Group Price Performance

Shares of PFGC stock opened at $95.98 on Friday. 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 debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 43.63, a PEG ratio of 1.33 and a beta of 0.93. The stock’s 50-day simple moving average is $93.59 and its 200-day simple moving average is $97.47.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The company had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. As a group, equities analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PFGC. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Barclays reduced their price target on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Morgan Stanley reduced their price objective on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Finally, UBS Group dropped their target price 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. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group Company 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.