GAMMA Investing LLC Buys 156,514 Shares of Performance Food Group (NYSE:PFGC)

GAMMA Investing LLC raised its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 9,261.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,204 shares of the food distribution company's stock after purchasing an additional 156,514 shares during the period. GAMMA Investing LLC owned approximately 0.10% of Performance Food Group worth $12,440,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock valued at $298,794,000 after purchasing an additional 401,235 shares during the last quarter. Blue Trust Inc. lifted its stake in Performance Food Group by 64.6% in the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock valued at $42,000 after purchasing an additional 212 shares during the last quarter. abrdn plc boosted its position in Performance Food Group by 3.8% in the fourth quarter. abrdn plc now owns 17,699 shares of the food distribution company's stock valued at $1,490,000 after buying an additional 649 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock worth $60,000 after buying an additional 239 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Performance Food Group by 0.5% during the fourth quarter. Rhumbline Advisers now owns 424,648 shares of the food distribution company's stock worth $35,904,000 after buying an additional 2,148 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PFGC shares. Morgan Stanley raised their price objective on Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Truist Financial dropped 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. Citigroup assumed coverage on shares of Performance Food Group in a report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. Sanford C. Bernstein set a $112.00 price objective on shares of Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Barclays lifted their target price on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.08.

Insider Activity

In other news, insider Donald S. Bulmer sold 2,404 shares of Performance Food Group stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the completion of the transaction, the insider now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 19,113 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the sale, the insider now owns 152,293 shares in the company, valued at $13,333,252.15. The trade was a 11.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,972 shares of company stock valued at $5,964,073 in the last 90 days. Insiders own 2.80% of the company's stock.

Performance Food Group Stock Performance

NYSE PFGC traded down $0.54 during trading hours on Tuesday, reaching $87.64. 856,991 shares of the company were exchanged, compared to its average volume of 1,120,699. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $13.68 billion, a P/E ratio of 35.34, a P/E/G ratio of 0.96 and a beta of 1.18. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The business's 50 day simple moving average is $82.25 and its 200-day simple moving average is $83.74.

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 analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. During the same period last year, the firm posted $0.80 EPS. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group will post 4.58 earnings per share for the current year.

About Performance Food Group

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.