Quantbot Technologies LP Invests $966,000 in Performance Food Group Company $PFGC

Quantbot Technologies LP bought a new stake in Performance Food Group Company (NYSE:PFGC) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 9,285 shares of the food distribution company’s stock, valued at approximately $966,000.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Performance Food Group by 51.3% during the 2nd 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 during the period. AlphaQuest LLC grew its stake in 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 acquiring an additional 329 shares during the period. Root Financial Partners LLC bought a new stake in shares of Performance Food Group during the third quarter valued at approximately $39,000. Golden State Wealth Management LLC increased its holdings in shares of 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 valued at $46,000 after acquiring an additional 312 shares in the last quarter. Finally, Eastern Bank acquired a new position in shares of Performance Food Group during the third quarter worth approximately $47,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the business’s 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 transaction, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. The trade was a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PFGC. Guggenheim reissued a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Zacks Research downgraded shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Piper Sandler dropped their price objective on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Morgan Stanley reduced their price objective 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. Finally, Citigroup decreased their target price on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $116.44.

Performance Food Group Stock Down 2.8%

Shares of NYSE:PFGC opened at $87.48 on Friday. The business’s 50 day moving average is $93.66 and its 200 day moving average is $97.18. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $109.05. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.27 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45.

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

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.