842,975 Shares in Performance Food Group Company $PFGC Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC bought a new stake in Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, HoldingsChannel reports. The fund bought 842,975 shares of the food distribution company’s stock, valued at approximately $94,236,000. Performance Food Group comprises 1.4% of TimesSquare Capital Management LLC’s portfolio, making the stock its 16th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC acquired a new position in Performance Food Group during the 1st quarter worth $28,000. Asset Planning Inc acquired a new position in shares of Performance Food Group during the first quarter valued at $35,000. Torren Management LLC bought a new stake in shares of Performance Food Group during the fourth quarter valued at about $41,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Performance Food Group during the second quarter valued at about $51,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Performance Food Group in the fourth quarter worth about $43,000. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In other Performance Food Group news, insider A Brent King sold 6,111 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider directly owned 44,260 shares of the company’s stock, valued at approximately $4,647,300. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $237,500.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 27,187 shares of company stock valued at $2,743,695. 4.50% of the stock is owned by corporate insiders.

Performance Food Group Stock Performance

PFGC opened at $104.38 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The firm has a market cap of $16.44 billion, a PE ratio of 45.58, a P/E/G ratio of 1.38 and a beta of 0.91. The business has a fifty day simple moving average of $109.93 and a 200-day simple moving average of $98.04. Performance Food Group Company has a fifty-two week low of $80.82 and a fifty-two week high of $117.47.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The company had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period last year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Performance Food Group Company will post 5.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Morgan Stanley increased their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Citigroup raised their price objective on shares of Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday. Finally, Guggenheim upped their target price 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. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average target price of $126.90.

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.