Performance Food Group Company $PFGC Stock Holdings Lifted by Balyasny Asset Management L.P.

Key Points

• Balyasny Asset Management more than doubled its stake in Performance Food Group, raising holdings by 103.1% to 1.51 million shares valued at about $136.2 million.
• Performance Food Group beat quarterly expectations, reporting EPS of $0.80 versus $0.77 expected and revenue of $16.29 billion, up 6.4% year over year.
• Analyst sentiment remains constructive, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy with a $119 average target.

Balyasny Asset Management L.P. raised its stake in Performance Food Group Company (NYSE:PFGC - Free Report) by 103.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,514,841 shares of the food distribution company's stock after buying an additional 769,013 shares during the period. Balyasny Asset Management L.P. owned approximately 0.97% of Performance Food Group worth $136,215,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of Performance Food Group by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company's stock valued at $125,972,000 after buying an additional 121,202 shares in the last quarter. Maven Securities LTD bought a new position in shares of Performance Food Group in the third quarter valued at $2,589,000. Assenagon Asset Management S.A. increased its holdings in shares of Performance Food Group by 10.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company's stock valued at $44,124,000 after buying an additional 45,867 shares in the last quarter. Close Asset Management Ltd increased its holdings in shares of Performance Food Group by 7.5% in the third quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company's stock valued at $216,536,000 after buying an additional 145,387 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Performance Food Group by 0.8% in the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company's stock valued at $2,335,371,000 after buying an additional 185,624 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $103.23 on Thursday. The company's fifty day moving average is $94.09 and its two-hundred day moving average is $92.48. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $109.05. The company has a market cap of $16.22 billion, a P/E ratio of 49.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.93.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The business had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Performance Food Group's revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Erika T. Davis sold 1,750 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $183,750.00. Following the transaction, the insider owned 43,041 shares in the company, valued at $4,519,305. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimberly Grant sold 2,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $95.00, for a total value of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares in the company, valued at $1,133,825. This trade represents a 17.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,592 shares of company stock worth $2,741,865. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup boosted their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Barclays boosted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $123.00 target price on shares of Performance Food Group in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.00.

Performance Food Group 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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