13,948 Shares in Performance Food Group Company $PFGC Bought by Havemeyer Place LP

Key Points

• Havemeyer Place LP disclosed a new fourth-quarter position in Performance Food Group, buying 13,948 shares worth about $1.25 million.
• Performance Food Group reported better-than-expected quarterly earnings, with EPS of $0.80 versus $0.77 expected and revenue of $16.29 billion, up 6.4% year over year.
• Analysts remain largely positive on PFGC, with 10 Buy ratings and a consensus price target of $119, while several insiders recently sold shares.

Havemeyer Place LP acquired a new position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,948 shares of the food distribution company's stock, valued at approximately $1,254,000.

Several other hedge funds also recently added to or reduced their stakes in PFGC. Torren Management LLC acquired a new position in shares of Performance Food Group in the 4th quarter valued at about $41,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group during the 4th quarter valued at about $43,000. Clearstead Advisors LLC boosted its stake in Performance Food Group by 132.9% during the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock valued at $53,000 after purchasing an additional 335 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of 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 worth $58,000 after buying an additional 537 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Performance Food Group during the 4th quarter worth about $62,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

Shares of PFGC opened at $97.00 on Monday. The company's 50 day moving average price is $91.24 and its 200 day moving average price is $92.09. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $109.05. The company has a market capitalization of $15.24 billion, a PE ratio of 46.19, a PEG ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. Research analysts expect that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a research report on Friday, March 27th. Citigroup boosted their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Finally, Barclays boosted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.00.

Insider Activity at Performance Food Group

In related news, Director Kimberly Grant sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the transaction, the director directly owned 11,935 shares of the company's stock, valued at approximately $1,133,825. The trade was a 17.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider A Brent King sold 5,641 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $96.63, for a total transaction of $545,089.83. Following the transaction, the insider directly owned 57,211 shares in the company, valued at $5,528,298.93. The trade was a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 12,891 shares of company stock valued at $1,232,460. Company insiders own 4.50% of the company's stock.

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.

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