AXQ Capital LP Makes New Investment in Performance Food Group Company $PFGC

AXQ Capital LP purchased a new stake in Performance Food Group Company (NYSE:PFGC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,653 shares of the food distribution company’s stock, valued at approximately $796,000.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on PFGC shares. UBS Group dropped their target price on shares of 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. Piper Sandler cut their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Barclays reduced their price objective on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Finally, Citigroup lowered their target price on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. 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. According to MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $116.44.

Performance Food Group Price Performance

PFGC opened at $95.71 on Tuesday. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 1.38 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $93.45 and a 200-day moving average price of $97.50. Performance Food Group Company has a twelve month low of $68.39 and a twelve month high of $109.05.

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

Insiders Place Their Bets

In other news, insider Chasity D. Grosh sold 1,843 shares of the company’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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 4.50% of the stock is owned by insiders.

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.