Performance Food Group Company $PFGC Shares Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in shares of Performance Food Group Company (NYSE:PFGC) by 28.9% in the fourth quarter, HoldingsChannel reports. The firm owned 853,970 shares of the food distribution company’s stock after purchasing an additional 191,585 shares during the quarter. Performance Food Group makes up approximately 1.2% of TimesSquare Capital Management LLC’s holdings, making the stock its 27th largest holding. TimesSquare Capital Management LLC’s holdings in Performance Food Group were worth $76,789,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFGC. Root Financial Partners LLC acquired a new position in Performance Food Group during the 3rd quarter valued at approximately $39,000. Torren Management LLC acquired a new position in Performance Food Group during the 4th quarter valued at approximately $41,000. EverSource Wealth Advisors LLC boosted its position in Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 537 shares during the period. Parkside Financial Bank & Trust boosted its position in Performance Food Group by 55.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company’s stock valued at $59,000 after purchasing an additional 201 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Performance Food Group during the 4th quarter valued at approximately $62,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Activity at Performance Food Group

In other news, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the sale, the insider owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Performance Food Group Stock Up 0.2%

Shares of Performance Food Group stock opened at $96.12 on Tuesday. The business’s fifty day moving average price is $88.49 and its two-hundred day moving average price is $92.18. 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 company has a market capitalization of $15.10 billion, a P/E ratio of 45.77, a PEG ratio of 1.50 and a beta of 0.92. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $109.05.

Performance Food Group (NYSE:PFGC) last announced its earnings results 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. The firm had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, research analysts forecast that Performance Food Group Company will post 4.57 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of analyst reports. Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Friday, March 27th. Morgan Stanley cut their target price on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Citigroup lifted their target price 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. Finally, UBS Group cut their target price on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

Performance Food Group Company 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.