Performance Food Group Company (NYSE:PFGC) Stake Boosted by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC increased its stake in Performance Food Group Company (NYSE:PFGC) by 66.2%, holding 10,885 shares valued at approximately $840,000 after purchasing an additional 4,336 shares.
• Many institutional investors have recently bought or adjusted their positions in PFGC, with institutional ownership now at 96.87%, reflecting strong confidence in the company.
• Performance Food Group reported $0.79 earnings per share for the last quarter, below analysts' estimates of $0.86, with revenues of $15.31 billion that also missed expectations.

Bryce Point Capital LLC grew its holdings in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 66.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,885 shares of the food distribution company's stock after purchasing an additional 4,336 shares during the quarter. Bryce Point Capital LLC's holdings in Performance Food Group were worth $840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighPoint Advisor Group LLC increased its holdings in Performance Food Group by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company's stock valued at $389,000 after purchasing an additional 121 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Performance Food Group by 4.6% in the fourth quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company's stock worth $248,000 after buying an additional 130 shares during the period. CWM LLC grew its stake in shares of Performance Food Group by 8.6% in the first quarter. CWM LLC now owns 2,332 shares of the food distribution company's stock valued at $183,000 after buying an additional 185 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Performance Food Group by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company's stock valued at $366,000 after buying an additional 208 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Performance Food Group by 6.9% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,260 shares of the food distribution company's stock worth $256,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

PFGC has been the subject of a number of analyst reports. Wall Street Zen cut Performance Food Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Citigroup initiated coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price target for the company. Barclays upped their price target on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the stock an "overweight" rating in a report on Thursday, May 29th. Finally, UBS Group upped their price target on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Five 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Insider Activity at Performance Food Group

In other news, insider A Brent King sold 12,866 shares of the firm'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 directly owned 60,952 shares of the company's stock, valued at approximately $5,486,899.04. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hugh Patrick Hatcher sold 2,000 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the transaction, the insider directly owned 35,239 shares in the company, valued at $3,347,705. This trade represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,172 shares of company stock valued at $7,534,748. 2.80% of the stock is owned by corporate insiders.

Performance Food Group Stock Performance

PFGC stock traded down $1.39 during mid-day trading on Thursday, reaching $100.69. The company had a trading volume of 619,859 shares, compared to its average volume of 1,265,866. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $15.72 billion, a P/E ratio of 41.99, a P/E/G ratio of 1.38 and a beta of 1.15. Performance Food Group Company has a one year low of $63.24 and a one year high of $103.50. The stock's 50-day simple moving average is $90.61 and its two-hundred day simple moving average is $85.04.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. Research analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current year.

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.