Performance Food Group (NYSE:PFGC) Stock Position Increased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. boosted its position in Performance Food Group (NYSE:PFGC) by 58.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 396,225 shares of the food distribution company’s stock after purchasing an additional 146,731 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.25% of Performance Food Group worth $26,194,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its position in shares of Performance Food Group by 414.1% during the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after buying an additional 1,770,683 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Performance Food Group by 223.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after buying an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after buying an additional 469,500 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Performance Food Group by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after buying an additional 397,114 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Performance Food Group during the 4th quarter worth about $11,410,000. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Stock Performance

Performance Food Group stock opened at $78.21 on Friday. The firm’s 50 day simple moving average is $71.65 and its 200-day simple moving average is $70.38. The company has a market cap of $12.19 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $79.59.

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

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group lifted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Truist Financial lifted 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Insider Transactions at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of Performance Food Group stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Scott E. Mcpherson sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the transaction, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock valued at $7,426,075 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Company 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.