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VELA Investment Management LLC Acquires 3,705 Shares of Performance Food Group Company (NYSE:PFGC)

Performance Food Group logo with Retail/Wholesale background

VELA Investment Management LLC boosted its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,601 shares of the food distribution company's stock after acquiring an additional 3,705 shares during the period. Performance Food Group accounts for about 1.1% of VELA Investment Management LLC's portfolio, making the stock its 22nd biggest position. VELA Investment Management LLC's holdings in Performance Food Group were worth $3,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new stake in Performance Food Group during the 4th quarter worth $26,000. CENTRAL TRUST Co raised its position in Performance Food Group by 476.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock worth $39,000 after purchasing an additional 405 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Performance Food Group by 203.7% in the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after buying an additional 334 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Performance Food Group by 353.5% in the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock valued at $71,000 after buying an additional 707 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Performance Food Group by 34,133.3% in the first quarter. Versant Capital Management Inc now owns 1,027 shares of the food distribution company's stock valued at $81,000 after acquiring an additional 1,024 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PFGC shares. UBS Group upped their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the company an "overweight" rating in a research report on Thursday, May 29th. Truist Financial cut their target price on 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. Barclays raised their target price on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Citigroup started coverage on Performance Food Group in a report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and an average price target of $100.08.

Check Out Our Latest Analysis on PFGC

Insider Buying and Selling

In other Performance Food Group news, insider Donald S. Bulmer sold 2,404 shares of Performance Food Group 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 owned 51,350 shares of the company's stock, valued at $4,621,500. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction that occurred 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 in the company, valued at approximately $5,486,899.04. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,972 shares of company stock valued at $5,964,073 in the last 90 days. Insiders own 2.80% of the company's stock.

Performance Food Group Stock Up 0.2%

Shares of PFGC traded up $0.17 during trading hours on Monday, reaching $89.04. The stock had a trading volume of 854,686 shares, compared to its average volume of 1,087,915. Performance Food Group Company has a 12 month low of $61.60 and a 12 month high of $92.44. The firm has a 50-day simple moving average of $86.36 and a 200 day simple moving average of $83.57. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 37.10, a P/E/G ratio of 1.25 and a beta of 1.15.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $15.41 billion. During the same period in the previous year, the business posted $0.80 EPS. Performance Food Group's revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Performance Food Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Performance Food Group (NYSE:PFGC)

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