NorthCrest Asset Manangement LLC Purchases New Stake in Performance Food Group Company $PFGC

NorthCrest Asset Manangement LLC acquired a new position in shares of Performance Food Group Company (NYSE:PFGC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,932 shares of the food distribution company’s stock, valued at approximately $657,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Performance Food Group in the 2nd quarter valued at about $1,576,983,000. Primecap Management Co. CA bought a new position in Performance Food Group in the second quarter worth about $305,064,000. Bank of New York Mellon Corp bought a new position in Performance Food Group in the second quarter worth about $105,756,000. TimesSquare Capital Management LLC acquired a new position in Performance Food Group in the second quarter valued at approximately $94,236,000. Finally, Bank of America Corp DE acquired a new position in Performance Food Group in the second quarter valued at approximately $78,474,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several recent research reports. Wells Fargo & Company upped their target price on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. UBS Group cut their price target on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Morgan Stanley boosted their price objective on Performance Food Group from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim boosted their price objective on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $133.00 price objective on shares of Performance Food Group in a research note on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.40.

Performance Food Group Stock Performance

NYSE PFGC traded up $0.44 on Friday, hitting $97.75. The stock had a trading volume of 1,482,766 shares, compared to its average volume of 1,402,160. Performance Food Group Company has a one year low of $80.82 and a one year 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 has a market cap of $15.40 billion, a price-to-earnings ratio of 42.69, a P/E/G ratio of 1.24 and a beta of 0.87. The company’s 50-day moving average is $97.66 and its two-hundred day moving average is $99.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly 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). The firm had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. Performance Food Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. On average, analysts expect that Performance Food Group Company will post 5.60 earnings per share for the current year.

Insider Transactions at Performance Food Group

In other news, insider A. King sold 1,320 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total value of $138,982.80. Following the completion of the transaction, the insider owned 44,216 shares of the company’s stock, valued at approximately $4,655,502.64. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chasity D. Grosh sold 1,005 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $92.40, for a total value of $92,862.00. Following the transaction, the insider directly owned 5,783 shares in the company, valued at $534,349.20. This trade represents a 14.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,459 shares of company stock worth $4,317,917 over the last quarter. Insiders own 4.50% of the company’s stock.

Performance Food Group Profile

Performance Food Group Co (NYSE:PFGC) is a foodservice and convenience distribution company headquartered in Richmond, Virginia. Through its operating businesses, the company supplies food and related products to restaurants, foodservice operators, convenience stores and other commercial customers across the United States and Canada.

PFGC’s foodservice operations distribute a broad selection of center-of-the-plate foods, fresh and frozen products, produce, beverages, disposables, cleaning supplies and other restaurant essentials.