Edgestream Partners L.P. Takes $3.09 Million Position in Performance Food Group Company (NYSE:PFGC)

Edgestream Partners L.P. bought a new position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 39,342 shares of the food distribution company's stock, valued at approximately $3,093,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its position in Performance Food Group by 8.6% in the 1st quarter. CWM LLC now owns 2,332 shares of the food distribution company's stock valued at $183,000 after buying an additional 185 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Performance Food Group by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the food distribution company's stock valued at $3,444,000 after purchasing an additional 600 shares during the last quarter. Xponance Inc. lifted its position in shares of Performance Food Group by 1.6% during the first quarter. Xponance Inc. now owns 20,748 shares of the food distribution company's stock valued at $1,631,000 after purchasing an additional 332 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Performance Food Group by 1.4% during the first quarter. State of Michigan Retirement System now owns 37,403 shares of the food distribution company's stock valued at $2,941,000 after purchasing an additional 500 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Performance Food Group by 196.4% during the first quarter. Cerity Partners LLC now owns 174,789 shares of the food distribution company's stock worth $13,744,000 after purchasing an additional 115,818 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an "overweight" rating in a research note on Thursday, May 29th. UBS Group increased their price target on shares of Performance Food Group from $103.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Citigroup started coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, Truist Financial decreased their price target on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Insider Buying and Selling at Performance Food Group

In other news, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $90.00, for a total transaction of $216,360.00. Following the completion of the transaction, the insider directly owned 51,350 shares in the company, valued at $4,621,500. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the completion of the transaction, the insider directly owned 60,952 shares of the company's stock, valued at $5,486,899.04. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,172 shares of company stock worth $7,534,748. 2.80% of the stock is owned by corporate insiders.

Performance Food Group Price Performance

PFGC stock traded down $0.47 during midday trading on Friday, reaching $98.66. The company had a trading volume of 1,273,037 shares, compared to its average volume of 1,142,150. The firm has a 50-day moving average price of $88.65 and a 200-day moving average price of $84.22. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.61 and a quick ratio of 0.73. The company has a market capitalization of $15.40 billion, a P/E ratio of 41.11, a P/E/G ratio of 1.39 and a beta of 1.15. Performance Food Group Company has a 1 year low of $63.24 and a 1 year high of $100.46.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The business had revenue of $15.31 billion for the quarter, compared to analysts' expectations of $15.41 billion. During the same period last year, the business posted $0.80 earnings per share. The company's revenue was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Performance Food Group Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.