Inscription Capital LLC Takes Position in Performance Food Group Company (NYSE:PFGC)

Inscription Capital LLC acquired a new position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,100 shares of the food distribution company's stock, valued at approximately $754,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighPoint Advisor Group LLC raised its stake in Performance Food Group by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company's stock valued at $389,000 after acquiring an additional 121 shares during the last quarter. Stifel Financial Corp grew its holdings in Performance Food Group by 4.6% during the 4th quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company's stock valued at $248,000 after buying an additional 130 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Performance Food Group by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company's stock worth $366,000 after purchasing an additional 208 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Performance Food Group by 1.1% during the fourth quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company's stock worth $1,597,000 after purchasing an additional 213 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Performance Food Group by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock worth $66,000 after purchasing an additional 226 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Insider Activity

In other news, insider A Brent King sold 12,866 shares of the company's stock in a transaction on 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 transaction, the insider now owns 60,952 shares of the company's stock, valued at $5,486,899.04. This represents a 17.43% decrease in their position. The sale was disclosed in a filing 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 on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the transaction, the insider now directly owns 152,293 shares in the company, valued at $13,333,252.15. This represents a 11.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,972 shares of company stock worth $5,964,073 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Performance Food Group Price Performance

Performance Food Group stock traded up $0.96 during midday trading on Friday, reaching $85.95. The company's stock had a trading volume of 1,098,994 shares, compared to its average volume of 1,113,427. Performance Food Group Company has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The business has a 50-day moving average price of $84.12 and a 200-day moving average price of $83.62. The stock has a market cap of $13.42 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.18.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Citigroup initiated coverage on Performance Food Group in a research report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 target price on the stock. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the company an "overweight" rating in a report on Thursday, May 29th. UBS Group upped their price objective on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley upped their price objective on Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.08.

Performance Food Group Company 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.