TimesSquare Capital Management LLC Buys 233,345 Shares of Performance Food Group Company (NYSE:PFGC)

TimesSquare Capital Management LLC lifted its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 50.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 693,450 shares of the food distribution company's stock after purchasing an additional 233,345 shares during the period. 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.

Several other institutional investors have also recently made changes to their positions in PFGC. Proficio Capital Partners LLC bought a new position in shares of Performance Food Group in the 4th quarter worth approximately $2,087,000. Raymond James Financial Inc. bought a new position in shares of Performance Food Group in the 4th quarter worth approximately $16,830,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Performance Food Group by 17.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,192 shares of the food distribution company's stock worth $3,398,000 after purchasing an additional 6,085 shares during the period. HighTower Advisors LLC lifted its stake in shares of Performance Food Group by 11.9% in the 4th quarter. HighTower Advisors LLC now owns 9,047 shares of the food distribution company's stock worth $765,000 after purchasing an additional 965 shares during the period. Finally, Swiss National Bank increased its holdings in Performance Food Group by 0.9% in the 4th quarter. Swiss National Bank now owns 306,560 shares of the food distribution company's stock worth $25,920,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PFGC shares. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an "overweight" rating in a report on Thursday, May 29th. Barclays increased their target price on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley increased their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday. Truist Financial reduced their target price on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Insider Transactions at Performance Food Group

In related news, insider Erika T. Davis sold 8,200 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total value of $735,704.00. Following the completion of the sale, the insider directly owned 46,722 shares in the company, valued at $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $90.00, for a total value of $216,360.00. Following the completion of the sale, the insider owned 51,350 shares of the company's stock, valued at approximately $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 a total of 77,837 shares of company stock valued at $6,901,248 in the last 90 days. Company insiders own 2.80% of the company's stock.

Performance Food Group Price Performance

PFGC traded down $0.73 during trading on Thursday, reaching $99.18. 1,578,460 shares of the company traded hands, compared to its average volume of 1,137,387. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61. Performance Food Group Company has a 12-month low of $63.24 and a 12-month high of $100.26. The firm has a fifty day simple moving average of $88.09 and a 200 day simple moving average of $84.02. The company has a market cap of $15.48 billion, a P/E ratio of 41.33, a PEG ratio of 1.36 and a beta of 1.15.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The business had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. During the same period last 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, equities analysts forecast that Performance Food Group Company will post 4.58 EPS 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.