Eminence Capital LP Purchases 998,249 Shares of Performance Food Group Company $PFGC

Eminence Capital LP lifted its position in Performance Food Group Company (NYSE:PFGC) by 60.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,647,353 shares of the food distribution company’s stock after acquiring an additional 998,249 shares during the period. Performance Food Group comprises 3.8% of Eminence Capital LP’s investment portfolio, making the stock its 9th largest holding. Eminence Capital LP’s holdings in Performance Food Group were worth $238,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Engineers Gate Manager LP boosted its stake in Performance Food Group by 1.8% during the fourth quarter. Engineers Gate Manager LP now owns 401,342 shares of the food distribution company’s stock worth $36,089,000 after buying an additional 6,904 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Performance Food Group in the fourth quarter valued at about $1,242,000. Aristotle Atlantic Partners LLC acquired a new position in Performance Food Group in the fourth quarter worth about $3,313,000. Atreides Management LP acquired a new position in Performance Food Group in the fourth quarter worth about $11,321,000. Finally, Balyasny Asset Management L.P. lifted its stake in Performance Food Group by 103.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,514,841 shares of the food distribution company’s stock worth $136,215,000 after purchasing an additional 769,013 shares during the period. 96.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFGC has been the topic of several recent analyst reports. Citigroup boosted their price target on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Barclays increased their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Insider Transactions at Performance Food Group

In other news, insider Erika T. Davis sold 1,750 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $183,750.00. Following the completion of the transaction, the insider owned 43,041 shares of the company’s stock, valued at $4,519,305. The trade was a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total value of $237,500.00. Following the sale, the director directly owned 11,935 shares in the company, valued at approximately $1,133,825. This represents a 17.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,592 shares of company stock worth $2,741,865 in the last ninety days. 4.50% of the stock is currently owned by insiders.

Performance Food Group Stock Performance

Performance Food Group stock opened at $103.23 on Thursday. The stock has a 50-day simple moving average of $94.09 and a 200 day simple moving average of $92.48. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 49.16, a P/E/G ratio of 1.64 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $109.05.

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

Performance Food Group 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.