16,554 Shares in Performance Food Group Company $PFGC Purchased by Susquehanna Fundamental Investments LLC

Key Points

• Susquehanna Fundamental Investments acquired 16,554 shares of Performance Food Group worth approximately $1.85 million during the second quarter. Institutional investors and hedge funds collectively own 96.87% of the company.
• Performance Food Group reported quarterly earnings of $1.59 per share, narrowly missing estimates, while revenue rose 6.7% year over year to $18.03 billion. Shares opened at $99.15, below the analyst consensus price target of $126.90.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a “Moderate Buy” consensus. However, company insiders sold 54,750 shares worth about $5.72 million over the past 90 days.

Susquehanna Fundamental Investments LLC bought a new position in Performance Food Group Company (NYSE:PFGC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,554 shares of the food distribution company's stock, valued at approximately $1,851,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $1,576,983,000. Primecap Management Co. CA acquired a new position in Performance Food Group during the 2nd quarter valued at approximately $305,064,000. Norges Bank bought a new position in Performance Food Group during the 4th quarter worth $208,170,000. Wellington Management Group LLP increased its position in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock worth $646,447,000 after buying an additional 1,964,799 shares during the period. Finally, Invesco Ltd. increased its position in Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company's stock worth $275,400,000 after buying an additional 1,168,869 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Trading Down 0.0%

Shares of PFGC stock opened at $99.15 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. Performance Food Group Company has a 1 year low of $80.82 and a 1 year high of $117.47. The stock has a fifty day moving average of $109.86 and a two-hundred day moving average of $98.76. The firm has a market capitalization of $15.62 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly 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). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period last year, the business posted $0.84 earnings per share. Performance Food Group's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts expect that Performance Food Group Company will post 5.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen cut their target price on Performance Food Group from $128.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Morgan Stanley increased their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Barclays boosted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, UBS Group decreased 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. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $126.90.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider A Brent King sold 8,023 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $836,076.83. Following the sale, the insider directly owned 47,800 shares in the company, valued at approximately $4,981,238. The trade was a 14.37% 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 Erika T. Davis sold 8,008 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $104.21, for a total transaction of $834,513.68. Following the completion of the sale, the insider directly owned 43,986 shares of the company's stock, valued at approximately $4,583,781.06. This represents a 15.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 54,750 shares of company stock valued at $5,722,370. 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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