Edgestream Partners L.P. Lowers Stake in Performance Food Group Company $PFGC

Edgestream Partners L.P. lowered its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 34.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,571 shares of the food distribution company’s stock after selling 34,441 shares during the period. Edgestream Partners L.P.’s holdings in Performance Food Group were worth $5,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFGC. Cedar Mountain Advisors LLC bought a new stake in shares of Performance Food Group in the 1st quarter worth approximately $28,000. Asset Planning Inc bought a new position in Performance Food Group during the 1st quarter valued at approximately $35,000. Torren Management LLC bought a new position in Performance Food Group during the 4th quarter valued at approximately $41,000. Lloyd Advisory Services LLC. purchased a new position in Performance Food Group during the fourth quarter valued at $43,000. Finally, Clearstead Advisors LLC raised its stake in Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after buying an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

PFGC stock opened at $114.67 on Friday. The stock has a market capitalization of $18.01 billion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The stock’s 50 day simple moving average is $106.30 and its 200 day simple moving average is $96.68.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. As a group, research analysts forecast that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total transaction of $283,620.00. Following the sale, the insider directly owned 44,655 shares of the company’s stock, valued at $4,221,683.70. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider A Brent King sold 6,111 shares of Performance Food Group stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares of the company’s stock, valued at $4,647,300. The trade was a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,187 shares of company stock valued at $3,027,315. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PFGC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Wednesday, June 24th. Guggenheim lifted their price target on Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $123.00 price target on shares of Performance Food Group in a research report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Barclays increased their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $123.82.

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.