Atom Investors LP Acquires 9,839 Shares of Performance Food Group Company $PFGC

Key Points

• Atom Investors LP boosted its stake in Performance Food Group by 18.9% in the fourth quarter, buying 9,839 additional shares and bringing its total holdings to 61,856 shares worth about $5.56 million.
• Other institutional investors also increased positions, and 96.87% of the stock is owned by institutions, underscoring strong institutional interest in PFGC.
• Performance Food Group recently posted solid results, with Q4 EPS of $0.80 beating estimates and revenue of $16.29 billion topping forecasts; analysts currently rate the stock a Moderate Buy with an average price target of $119.

Atom Investors LP increased its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,856 shares of the food distribution company's stock after acquiring an additional 9,839 shares during the quarter. Atom Investors LP's holdings in Performance Food Group were worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Performance Food Group by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company's stock worth $125,972,000 after acquiring an additional 121,202 shares in the last quarter. Maven Securities LTD bought a new position in shares of Performance Food Group in the 3rd quarter worth about $2,589,000. Assenagon Asset Management S.A. increased its stake in shares of Performance Food Group by 10.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company's stock worth $44,124,000 after acquiring an additional 45,867 shares in the last quarter. Close Asset Management Ltd increased its stake in shares of Performance Food Group by 7.5% in the 3rd quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company's stock worth $216,536,000 after acquiring an additional 145,387 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of Performance Food Group by 0.8% in the 3rd quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company's stock worth $2,335,371,000 after acquiring an additional 185,624 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Insider Activity at Performance Food Group

In other news, Director Kimberly Grant sold 2,500 shares of Performance Food Group stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the sale, the director directly owned 11,935 shares in the company, valued at $1,133,825. The trade was a 17.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider A Brent King sold 6,111 shares of Performance Food Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the sale, the insider owned 44,260 shares of the company's stock, valued at $4,647,300. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,592 shares of company stock valued at $2,741,865. Insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $123.00 price objective on shares of Performance Food Group in a research note on Thursday, May 7th. Zacks Research upgraded shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, Barclays raised their price objective 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. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and an average price target of $119.00.

Performance Food Group Stock Up 0.4%

NYSE:PFGC opened at $104.55 on Wednesday. The firm has a market cap of $16.42 billion, a P/E ratio of 49.78, a P/E/G ratio of 1.63 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 Company has a fifty-two week low of $80.82 and a fifty-two week high of $109.05. The firm has a 50-day simple moving average of $93.74 and a two-hundred day simple moving average of $92.43.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share 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 business had revenue of $16.29 billion during the quarter, compared to analyst estimates of $16.17 billion. During the same period last year, the business earned $0.79 EPS. Performance Food Group's revenue was up 6.4% compared to the same quarter last year. Analysts predict that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

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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