QRG Capital Management Inc. Boosts Stock Holdings in Performance Food Group Company (NYSE:PFGC)

QRG Capital Management Inc. grew its position in Performance Food Group Company (NYSE:PFGC) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,656 shares of the food distribution company’s stock after acquiring an additional 208 shares during the quarter. QRG Capital Management Inc.’s holdings in Performance Food Group were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Norges Bank acquired a new stake in Performance Food Group in the 4th quarter valued at about $164,471,000. Junto Capital Management LP boosted its holdings in shares of Performance Food Group by 419.9% during the 4th quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company’s stock worth $118,884,000 after purchasing an additional 1,135,641 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Performance Food Group by 30.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company’s stock valued at $178,506,000 after purchasing an additional 498,554 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Performance Food Group in the fourth quarter valued at approximately $35,250,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Performance Food Group

In other news, insider Craig Howard Hoskins sold 14,285 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the sale, the insider now directly owns 138,008 shares in the company, valued at approximately $11,551,269.60. This trade represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $90.02, for a total value of $1,158,197.32. Following the completion of the transaction, the insider now owns 60,952 shares of the company’s stock, valued at approximately $5,486,899.04. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,972 shares of company stock valued at $5,964,073 in the last three months. 2.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PFGC shares. Morgan Stanley upped their target price on Performance Food Group from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday, May 29th. Barclays upped their price objective on shares of Performance Food Group from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Truist Financial dropped their price target on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, UBS Group lifted their price target on shares of Performance Food Group from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $100.08.

Performance Food Group Stock Up 1.5%

Shares of NYSE PFGC opened at $87.21 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average is $84.34 and its two-hundred day moving average is $83.55. Performance Food Group Company has a 52-week low of $61.60 and a 52-week high of $92.44. The firm has a market cap of $13.61 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.41 and a beta of 1.18.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $15.41 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. Performance Food Group’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

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.