Brant Point Investment Management LLC Purchases 13,559 Shares of Performance Food Group Company $PFGC

Key Points

• Brant Point Investment Management increased its stake in Performance Food Group by 14% in the fourth quarter, buying 13,559 additional shares and bringing its total to 110,743 shares worth about $10 million.
• Wall Street sentiment remains broadly positive: ten analysts rate PFGC a Buy, two rate it Hold, and the average price target is $119.
• Performance Food Group reported better-than-expected Q1 earnings, with EPS of $0.80 versus $0.77 expected and revenue of $16.29 billion, up 6.4% from a year ago.

Brant Point Investment Management LLC lifted its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,743 shares of the food distribution company's stock after purchasing an additional 13,559 shares during the quarter. Performance Food Group accounts for 1.2% of Brant Point Investment Management LLC's investment portfolio, making the stock its 2nd largest holding. Brant Point Investment Management LLC owned 0.07% of Performance Food Group worth $9,958,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Performance Food Group by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company's stock worth $1,134,000 after purchasing an additional 113 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Performance Food Group by 16.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company's stock worth $91,000 after purchasing an additional 143 shares during the period. US Bancorp DE raised its position in shares of Performance Food Group by 4.6% during the third quarter. US Bancorp DE now owns 3,283 shares of the food distribution company's stock worth $342,000 after purchasing an additional 144 shares during the period. Cornerstone Wealth Management LLC raised its position in Performance Food Group by 6.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company's stock valued at $243,000 after buying an additional 173 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Performance Food Group by 10.3% in the 4th quarter. UMB Bank n.a. now owns 1,941 shares of the food distribution company's stock valued at $175,000 after buying an additional 181 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Performance Food Group Trading Up 0.2%

NYSE PFGC opened at $104.22 on Friday. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $109.05. The firm has a market capitalization of $16.37 billion, a P/E ratio of 49.63, a PEG ratio of 1.63 and a beta of 0.93. The business has a fifty day simple moving average of $92.92 and a 200 day simple moving average of $92.34. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $16.29 billion for the quarter, compared to analysts' expectations of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. On average, analysts predict that Performance Food Group Company will post 4.57 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In related news, Director Kimberly Grant sold 2,500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares in the company, valued at approximately $1,133,825. This represents a 17.32% decrease in their ownership of the stock. 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 1,750 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $95.00, for a total transaction of $166,250.00. Following the transaction, the insider owned 44,791 shares of the company's stock, valued at approximately $4,255,145. The trade was a 3.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,731 shares of company stock worth $1,916,460 in the last ninety days. Corporate insiders own 4.50% of the company's stock.

Performance Food Group 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.

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