Performance Food Group Company (NYSE:PFGC) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC grew its holdings in Performance Food Group Company (NYSE:PFGC) by 8.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 46,601 shares of the food distribution company’s stock after buying an additional 3,705 shares during the period. Performance Food Group accounts for approximately 1.1% of VELA Investment Management LLC’s portfolio, making the stock its 22nd largest position. VELA Investment Management LLC’s holdings in Performance Food Group were worth $3,664,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in shares of Performance Food Group by 746.2% in the first quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company’s stock valued at $879,000 after acquiring an additional 9,857 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Performance Food Group in the fourth quarter valued at about $2,087,000. KLP Kapitalforvaltning AS purchased a new stake in Performance Food Group in the 4th quarter valued at approximately $3,697,000. Charles Schwab Investment Management Inc. increased its position in Performance Food Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,325 shares of the food distribution company’s stock worth $103,263,000 after purchasing an additional 26,925 shares during the period. Finally, LPL Financial LLC increased its position in Performance Food Group by 37.1% during the 4th quarter. LPL Financial LLC now owns 93,183 shares of the food distribution company’s stock worth $7,992,000 after purchasing an additional 25,192 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insiders Place Their Bets

In other news, insider A Brent King sold 12,866 shares of the business’s stock in a transaction dated 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 sale, the insider owned 60,952 shares of the company’s stock, valued at approximately $5,486,899.04. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald S. Bulmer sold 2,404 shares of Performance Food Group stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $90.00, for a total value of $216,360.00. Following the completion of the transaction, the insider owned 51,350 shares of the company’s stock, valued at approximately $4,621,500. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,972 shares of company stock valued at $5,964,073. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Price Performance

PFGC opened at $88.87 on Friday. Performance Food Group Company has a twelve month low of $61.60 and a twelve month high of $92.44. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.25 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The company has a fifty day simple moving average of $86.17 and a 200 day simple moving average of $83.56.

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

Analyst Ratings Changes

A number of research firms recently weighed in on PFGC. Truist Financial decreased their price target on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Citigroup began coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a “buy” rating and a $121.00 target price for the company. UBS Group upped their price target on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of Performance Food Group from $92.00 to $93.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Finally, Barclays upped their target price on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, May 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

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.