MQS Management LLC Invests $593,000 in Performance Food Group Company $PFGC

MQS Management LLC acquired a new position in shares of Performance Food Group Company (NYSE:PFGC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,590 shares of the food distribution company’s stock, valued at approximately $593,000.

Several other hedge funds also recently modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new stake in shares of Performance Food Group during the fourth quarter worth approximately $43,000. Global Retirement Partners LLC increased its holdings in shares of Performance Food Group by 382.5% during the fourth quarter. Global Retirement Partners LLC now owns 994 shares of the food distribution company’s stock worth $89,000 after buying an additional 788 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Performance Food Group during the fourth quarter worth approximately $2,661,000. Larson Financial Group LLC increased its holdings in shares of Performance Food Group by 2.2% during the fourth quarter. Larson Financial Group LLC now owns 51,382 shares of the food distribution company’s stock worth $4,620,000 after buying an additional 1,092 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in shares of Performance Food Group by 28.9% during the fourth quarter. TimesSquare Capital Management LLC now owns 853,970 shares of the food distribution company’s stock worth $76,789,000 after buying an additional 191,585 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $93.71 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The firm has a market cap of $14.72 billion, a P/E ratio of 44.62, a P/E/G ratio of 1.49 and a beta of 0.92. The firm has a 50 day simple moving average of $89.04 and a 200 day simple moving average of $92.14. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05.

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

Insider Buying and Selling

In other Performance Food Group news, Director Kimberly Grant sold 2,500 shares of Performance Food Group stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the director owned 11,935 shares of the company’s stock, valued at approximately $1,133,825. The trade was a 17.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hugh Patrick Hatcher sold 3,000 shares of Performance Food Group 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 represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFGC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Citigroup raised their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Morgan Stanley dropped 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, Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.00.

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.