Performance Food Group (NYSE:PFGC) Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC lifted its stake in Performance Food Group (NYSE:PFGC) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,896 shares of the food distribution company’s stock after buying an additional 4,518 shares during the period. Performance Food Group makes up 1.0% of VELA Investment Management LLC’s investment portfolio, making the stock its 23rd largest holding. VELA Investment Management LLC’s holdings in Performance Food Group were worth $3,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PFGC. Creative Planning lifted its stake in shares of Performance Food Group by 1.2% in the third quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock valued at $916,000 after purchasing an additional 140 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Performance Food Group by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock valued at $469,000 after purchasing an additional 160 shares during the period. CIBC Asset Management Inc grew its holdings in Performance Food Group by 4.3% in the second quarter. CIBC Asset Management Inc now owns 4,375 shares of the food distribution company’s stock valued at $289,000 after purchasing an additional 179 shares during the period. Cetera Investment Advisers grew its holdings in Performance Food Group by 0.4% in the second quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company’s stock valued at $3,044,000 after purchasing an additional 186 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in Performance Food Group by 1.9% during the first quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock worth $819,000 after buying an additional 200 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 target price on shares of Performance Food Group in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upped their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group increased their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Barclays boosted their price objective on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $90.88.

Performance Food Group Trading Down 0.5 %

PFGC stock traded down $0.39 during midday trading on Friday, hitting $80.86. 868,760 shares of the company’s stock were exchanged, compared to its average volume of 1,011,029. The stock’s fifty day moving average price is $77.86 and its 200-day moving average price is $71.61. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The company has a market cap of $12.60 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.45. Performance Food Group has a one year low of $58.79 and a one year high of $83.70.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Performance Food Group’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now owns 10,184 shares of the company’s stock, valued at $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 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.