Picton Mahoney Asset Management Acquires 48,508 Shares of Performance Food Group Company $PFGC

Picton Mahoney Asset Management raised its holdings in Performance Food Group Company (NYSE:PFGC) by 33.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 194,830 shares of the food distribution company’s stock after acquiring an additional 48,508 shares during the quarter. Picton Mahoney Asset Management’s holdings in Performance Food Group were worth $20,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Parkside Financial Bank & Trust raised its stake in Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Performance Food Group by 658.0% in the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after buying an additional 329 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Performance Food Group during the 3rd quarter valued at $39,000. Golden State Wealth Management LLC raised its position in shares of Performance Food Group by 148.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock valued at $46,000 after buying an additional 312 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Performance Food Group during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insiders Place Their Bets

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the sale, the insider 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

NYSE PFGC opened at $91.96 on Wednesday. The company has a 50-day simple moving average of $93.80 and a two-hundred day simple moving average of $97.36. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $109.05. The firm has a market cap of $14.42 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 1.35 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 released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The company had revenue of $16.44 billion during 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%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. On average, equities analysts forecast that Performance Food Group Company will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on 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. Barclays dropped their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Morgan Stanley reduced their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Finally, Guggenheim restated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

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.