Eurizon Capital SGR S.p.A. Takes $81.02 Million Position in Performance Food Group Company $PFGC

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in Performance Food Group, buying 900,387 shares worth about $81.02 million, or roughly 0.57% of the company.
• Other institutional investors also adjusted their holdings, and hedge funds now own 96.87% of Performance Food Group’s stock, while insiders hold about 4.50%.
• Performance Food Group recently beat earnings expectations with $0.80 EPS on $16.29 billion in revenue, and analysts currently rate the stock a Moderate Buy with a consensus price target of $119.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 900,387 shares of the food distribution company's stock, valued at approximately $81,020,000. Eurizon Capital SGR S.p.A. owned about 0.57% of Performance Food Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Performance Food Group by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company's stock valued at $252,207,000 after purchasing an additional 36,031 shares during the period. 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. Coldstream Capital Management Inc. boosted its stake in Performance Food Group by 8.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,838 shares of the food distribution company's stock valued at $345,000 after purchasing an additional 306 shares during the period. MQS Management LLC bought a new stake in Performance Food Group during the 4th quarter valued at approximately $593,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Performance Food Group during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 96.87% of the company's stock.

Insider Buying and Selling

In related news, Director Kimberly Grant sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 $1,133,825. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the transaction, the insider owned 44,655 shares of the company's stock, valued at $4,221,683.70. This trade represents a 6.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 7,250 shares of company stock worth $687,370 in the last 90 days. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PFGC. Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. UBS Group decreased their target price on Performance Food Group from $120.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, February 5th. Zacks Research upgraded Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Morgan Stanley decreased their target price on Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $119.00.

Performance Food Group Price Performance

Performance Food Group stock opened at $98.34 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The company has a market capitalization of $15.45 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. Performance Food Group Company has a one year low of $80.82 and a one year high of $109.05. The business has a 50 day simple moving average of $89.97 and a 200 day simple moving average of $92.11.

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