Factory Mutual Insurance Co. Invests $9.36 Million in Performance Food Group Company $PFGC

Factory Mutual Insurance Co. bought a new stake in shares of Performance Food Group Company (NYSE:PFGC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 90,000 shares of the food distribution company’s stock, valued at approximately $9,364,000. Factory Mutual Insurance Co. owned approximately 0.06% of Performance Food Group at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Performance Food Group in the second quarter valued at about $163,954,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Performance Food Group in the third quarter worth about $152,717,000. Primecap Management Co. CA grew its stake in shares of Performance Food Group by 22.1% in the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock valued at $224,930,000 after buying an additional 465,807 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Performance Food Group during the 2nd quarter valued at about $24,726,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after buying an additional 273,997 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Morgan Stanley lowered their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. UBS Group dropped their price target on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Finally, Barclays decreased their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction dated Tuesday, February 10th. The shares were 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 $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $98.10 on Friday. The business has a 50 day simple moving average of $93.33 and a 200-day simple moving average of $97.54. Performance Food Group Company has a twelve month low of $68.39 and a twelve month high of $109.05. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data 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 business 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 business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. As a group, equities research analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current year.

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.