Freestone Grove Partners LP Acquires New Holdings in Performance Food Group Company $PFGC

Freestone Grove Partners LP bought a new position in Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 607,888 shares of the food distribution company’s stock, valued at approximately $67,956,000. Freestone Grove Partners LP owned about 0.39% of Performance Food Group at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Performance Food Group in the 2nd quarter worth $1,576,983,000. Goldman Sachs Group Inc. increased its position in Performance Food Group by 9.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock valued at $125,972,000 after acquiring an additional 121,202 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in Performance Food Group by 7.3% in the fourth quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock valued at $18,645,000 after acquiring an additional 14,173 shares during the period. Hsbc Holdings PLC lifted its holdings in Performance Food Group by 30.9% in the fourth quarter. Hsbc Holdings PLC now owns 48,951 shares of the food distribution company’s stock valued at $4,408,000 after acquiring an additional 11,569 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Performance Food Group in the fourth quarter worth about $81,020,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 2.3%

Shares of NYSE:PFGC opened at $102.50 on Thursday. The stock has a 50 day moving average of $110.12 and a 200 day moving average of $98.52. The company has a market cap of $16.15 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34.

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

Insider Activity

In related news, insider Erika T. Davis sold 1,320 shares of Performance Food Group stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the transaction, the insider owned 40,402 shares in the company, valued at approximately $4,253,926.58. The trade was a 3.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider A Brent King sold 1,320 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the transaction, the insider directly owned 44,216 shares of the company’s stock, valued at $4,655,502.64. This represents a 2.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,391 shares of company stock valued at $6,267,460 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Performance Food Group News Roundup

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal fourth-quarter sales increased 6.4% year over year to $18.03 billion, with total case volume up 3.5% and organic case volume up 1.8%. Net income rose 23.4% to $162.3 million, indicating that growth was supported by demand as well as pricing. Performance Food sales and earnings article
• Positive Sentiment: Wall Street’s outlook remains constructive, with 11 analysts rating PFGC a Buy and two rating it a Hold. The consensus rating is “Moderate Buy,” with an average price target of $126.90, supported by recent target increases from several firms.
• Neutral Sentiment: Institutional investors own approximately 96.9% of the stock, and several major funds recently increased or initiated positions. This may provide longer-term support, although the reported holdings changes do not necessarily indicate a near-term trading catalyst.
• Neutral Sentiment: A board member recently resigned, but no reason was disclosed. Without additional details, the immediate effect on PFGC’s outlook is unclear. Performance Food Group board resignation
• Negative Sentiment: Several insiders sold shares between August 20 and 25. Notable transactions included Donald S. Bulmer’s sale of 10,535 shares for approximately $1.12 million, alongside additional sales by A. Brent King, Erika T. Davis and Chasity Grosh. The concentrated selling may weigh on sentiment, even though insider sales can reflect personal or compensation-related decisions. Performance Food Group insider sales
• Negative Sentiment: The latest quarter narrowly missed consensus expectations for both EPS and revenue. Product-cost inflation of approximately 4.7% also raises questions about how much sales growth reflects pricing rather than underlying demand. With PFGC trading below its 50-day moving average and at a relatively high earnings multiple, investors may be more sensitive to modest misses.

Analysts Set New Price Targets

PFGC has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Guggenheim increased 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 note on Monday, June 29th. TD Cowen dropped their price objective on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. UBS Group cut their target price on shares of Performance Food Group from $132.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.

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.