Engineers Gate Manager LP Buys 167,361 Shares of Performance Food Group Company $PFGC

Engineers Gate Manager LP increased its stake in shares of Performance Food Group Company (NYSE:PFGC) by 77.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,143 shares of the food distribution company’s stock after buying an additional 167,361 shares during the quarter. Performance Food Group comprises approximately 0.6% of Engineers Gate Manager LP’s investment portfolio, making the stock its 22nd biggest position. Engineers Gate Manager LP owned about 0.24% of Performance Food Group worth $42,943,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cidel Asset Management Inc. raised its holdings in Performance Food Group by 10.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 2,630 shares of the food distribution company’s stock valued at $294,000 after acquiring an additional 258 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Performance Food Group by 337.1% during the 2nd quarter. NewEdge Advisors LLC now owns 2,710 shares of the food distribution company’s stock worth $303,000 after purchasing an additional 2,090 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Performance Food Group by 32.5% during the 2nd quarter. Allworth Financial LP now owns 2,462 shares of the food distribution company’s stock worth $275,000 after purchasing an additional 604 shares in the last quarter. Arizona State Retirement System increased its position in shares of Performance Food Group by 0.6% in the second quarter. Arizona State Retirement System now owns 43,348 shares of the food distribution company’s stock worth $4,846,000 after purchasing an additional 261 shares during the period. Finally, Nykredit A S bought a new position in shares of Performance Food Group in the second quarter worth $678,000. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PFGC shares. Guggenheim upped their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $133.00 target price on shares of Performance Food Group in a report on Thursday, August 13th. Morgan Stanley boosted their target price on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Finally, TD Cowen reduced their price target on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $126.90.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Hugh Hatcher sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the sale, the insider owned 58,167 shares of the company’s stock, valued at approximately $5,769,003.06. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Erika T. Davis sold 8,008 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total transaction of $834,513.68. Following the transaction, the insider owned 43,986 shares of the company’s stock, valued at $4,583,781.06. This trade represents a 15.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,910 shares of company stock valued at $5,335,910 in the last quarter. 4.50% of the stock is owned by company insiders.

Performance Food Group Stock Performance

NYSE:PFGC opened at $96.83 on Wednesday. Performance Food Group Company has a twelve month low of $80.82 and a twelve month high of $117.47. 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 stock’s 50-day simple moving average is $108.75 and its 200 day simple moving average is $98.77. The firm has a market capitalization of $15.25 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 1.26 and a beta of 0.88.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate 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 business had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period in the previous year, the firm posted $0.84 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Performance Food Group Company will post 5.6 EPS for the current fiscal year.

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.