Night Squared LP Purchases Shares of 64,975 Performance Food Group Company $PFGC

Key Points

• Night Squared LP acquired a new position of 64,975 shares of Performance Food Group (NYSE: PFGC), worth roughly $6.76 million, representing about 2.4% of the fund's holdings and its 14th-largest position.
• PFGC reported Q4 EPS of $0.98 vs. $1.07 expected and revenue of $16.44B vs. $16.54B expected, a modest miss, yet analysts remain largely positive with a consensus rating of "Moderate Buy" and an average price target of $116.44.
• The stock has a market cap of $13.83 billion and a P/E of 40.09, with institutional investors owning roughly 96.87% of shares and insiders accounting for about 4.5% ownership (including recent insider selling).

Night Squared LP acquired a new position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,975 shares of the food distribution company's stock, valued at approximately $6,760,000. Performance Food Group comprises approximately 2.4% of Night Squared LP's holdings, making the stock its 14th largest position.

A number of other large investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in shares of Performance Food Group by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company's stock worth $62,266,000 after acquiring an additional 184,066 shares in the last quarter. Empowered Funds LLC bought a new position in Performance Food Group in the 1st quarter valued at about $359,000. ProShare Advisors LLC boosted its stake in Performance Food Group by 4.0% during the 2nd quarter. ProShare Advisors LLC now owns 6,920 shares of the food distribution company's stock valued at $605,000 after purchasing an additional 264 shares during the last quarter. Allworth Financial LP boosted its stake in Performance Food Group by 247.0% during the 2nd quarter. Allworth Financial LP now owns 2,030 shares of the food distribution company's stock valued at $178,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in Performance Food Group during the 2nd quarter worth approximately $225,000. 96.87% of the stock is owned by institutional investors.

Performance Food Group Price Performance

Performance Food Group stock opened at $88.19 on Friday. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $109.05. The company's 50 day moving average price is $93.43 and its two-hundred day moving average price is $96.73. The stock has a market cap of $13.83 billion, a P/E ratio of 40.09, a P/E/G ratio of 1.23 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.09). The business had revenue of $16.44 billion during the quarter, compared to the consensus estimate of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 earnings per share. On average, equities analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several analyst reports. Guggenheim reissued a "buy" rating on shares of Performance Food Group in a research note on Thursday, December 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Performance Food Group in a research report on Thursday, February 5th. Morgan Stanley decreased their price target on Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, February 5th. Barclays dropped their price objective on Performance Food Group from $120.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 7th. Finally, Citigroup cut their price objective on shares of Performance Food Group from $127.00 to $126.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $116.44.

Insiders Place Their Bets

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider owned 6,601 shares in the company, valued at $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.50% of the company's stock.

Performance Food Group Company 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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