TimesSquare Capital Management LLC Boosts Stock Holdings in Performance Food Group Company (NYSE:PFGC)

TimesSquare Capital Management LLC increased its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,450 shares of the food distribution company's stock after buying an additional 233,345 shares during the quarter. TimesSquare Capital Management LLC owned about 0.44% of Performance Food Group worth $54,526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Performance Food Group by 746.2% in the 1st quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company's stock worth $879,000 after buying an additional 9,857 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Performance Food Group in the fourth quarter worth approximately $2,087,000. KLP Kapitalforvaltning AS acquired a new stake in Performance Food Group in the fourth quarter worth approximately $3,697,000. LPL Financial LLC lifted its position in Performance Food Group by 37.1% in the fourth quarter. LPL Financial LLC now owns 93,183 shares of the food distribution company's stock worth $7,992,000 after purchasing an additional 25,192 shares during the period. Finally, UMB Bank n.a. lifted its position in Performance Food Group by 52.6% in the first quarter. UMB Bank n.a. now owns 1,169 shares of the food distribution company's stock worth $92,000 after purchasing an additional 403 shares during the period. 96.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of recent research reports. UBS Group increased their price objective on 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 began coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target for the company. Sanford C. Bernstein set a $112.00 price objective on shares of Performance Food Group and gave the stock an "overweight" rating in a report on Thursday, May 29th. Wall Street Zen cut shares of Performance Food Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Finally, Truist Financial reduced their price target on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Five research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.31.

Performance Food Group Trading Up 3.4%

Shares of PFGC traded up $3.31 during trading hours on Wednesday, hitting $99.96. 3,198,270 shares of the stock were exchanged, compared to its average volume of 1,135,940. Performance Food Group Company has a fifty-two week low of $63.24 and a fifty-two week high of $100.36. 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 business has a 50-day moving average of $87.75 and a 200-day moving average of $83.91. The firm has a market capitalization of $15.60 billion, a P/E ratio of 41.65, a price-to-earnings-growth ratio of 1.37 and a beta of 1.15.

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 16.17% and a net margin of 0.61%. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts expect that Performance Food Group Company will post 4.58 EPS for the current year.

Insider Activity at Performance Food Group

In other news, insider A Brent King sold 12,866 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were 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 represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald S. Bulmer sold 2,404 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.00, for a total transaction of $216,360.00. Following the transaction, the insider directly owned 51,350 shares of the company's stock, valued at $4,621,500. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,837 shares of company stock valued at $6,901,248 over the last three months. Insiders own 2.80% of the company's stock.

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.