Headlands Technologies LLC Grows Stock Holdings in Performance Food Group (NYSE:PFGC)

Headlands Technologies LLC raised its stake in Performance Food Group (NYSE:PFGC) by 89.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,810 shares of the food distribution company’s stock after buying an additional 2,738 shares during the quarter. Headlands Technologies LLC’s holdings in Performance Food Group were worth $384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Point72 Asset Management L.P. increased its stake in Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after purchasing an additional 1,770,683 shares in the last quarter. Norges Bank acquired a new position in shares of Performance Food Group during the 4th quarter worth $119,726,000. Wellington Management Group LLP boosted its position in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after buying an additional 397,114 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Performance Food Group in the 4th quarter valued at about $11,410,000. Finally, Primecap Management Co. CA purchased a new position in Performance Food Group during the 4th quarter valued at about $11,230,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kimberly Grant sold 4,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kimberly Grant sold 4,000 shares of the 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 sale, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock valued at $7,426,075 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PFGC shares. Barclays increased their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. BMO Capital Markets increased their target price on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Truist Financial raised their price target on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.38.

Performance Food Group Stock Up 2.3 %

Shares of NYSE:PFGC opened at $73.01 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 0.78 and a beta of 1.44. The stock’s 50-day moving average price is $68.87 and its two-hundred day moving average price is $70.37. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54.

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, topping the consensus estimate of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Performance Food Group will post 4.87 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.