AlphaCrest Capital Management LLC Purchases 5,438 Shares of Performance Food Group (NYSE:PFGC)

AlphaCrest Capital Management LLC lifted its position in shares of Performance Food Group (NYSE:PFGC – Get Rating) by 58.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,704 shares of the food distribution company’s stock after acquiring an additional 5,438 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Performance Food Group were worth $632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Koshinski Asset Management Inc. bought a new position in shares of Performance Food Group during the 3rd quarter worth $4,842,000. Quadrant Capital Group LLC grew its stake in shares of Performance Food Group by 111.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 583 shares of the food distribution company’s stock worth $27,000 after acquiring an additional 307 shares during the period. Guardian Wealth Advisors LLC bought a new position in shares of Performance Food Group during the 3rd quarter worth $28,000. Pinebridge Investments L.P. grew its stake in shares of Performance Food Group by 325.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 954 shares of the food distribution company’s stock worth $44,000 after acquiring an additional 730 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Performance Food Group during the 2nd quarter worth $48,000. Institutional investors own 97.35% of the company’s stock.

Performance Food Group Stock Performance

NYSE:PFGC opened at $56.91 on Thursday. The business’s 50-day moving average price is $59.18 and its two-hundred day moving average price is $54.91. Performance Food Group has a twelve month low of $38.23 and a twelve month high of $63.13. The stock has a market cap of $8.89 billion, a P/E ratio of 33.09 and a beta of 1.36. The company has a quick ratio of 0.73, a current ratio of 1.71 and a debt-to-equity ratio of 1.16.

Performance Food Group (NYSE:PFGC – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The food distribution company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $13.90 billion for the quarter, compared to analysts’ expectations of $13.89 billion. Performance Food Group had a return on equity of 16.15% and a net margin of 0.47%. Performance Food Group’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. As a group, equities analysts predict that Performance Food Group will post 3.85 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In related news, insider Patrick T. Hagerty sold 500 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $61.26, for a total transaction of $30,630.00. Following the transaction, the insider now directly owns 154,290 shares of the company’s stock, valued at approximately $9,451,805.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Donald S. Bulmer sold 970 shares of the firm’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $59.81, for a total transaction of $58,015.70. Following the transaction, the insider now directly owns 33,196 shares of the company’s stock, valued at approximately $1,985,452.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Patrick T. Hagerty sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $61.26, for a total value of $30,630.00. Following the transaction, the insider now owns 154,290 shares in the company, valued at $9,451,805.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,470 shares of company stock valued at $146,166. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Performance Food Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 14th. Wells Fargo & Company raised their target price on Performance Food Group from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. Barclays raised their target price on Performance Food Group from $68.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. Credit Suisse Group raised their target price on Performance Food Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. Finally, TheStreet downgraded Performance Food Group from a “b” rating to a “c+” rating in a research note on Thursday, February 9th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Performance Food Group Company Profile

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Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice, Vistar, & Convenience. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.