Performance Food Group (NYSE:PFGC) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in shares of Performance Food Group (NYSE:PFGC) by 27.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,710,679 shares of the food distribution company’s stock after purchasing an additional 372,218 shares during the period. Point72 Asset Management L.P.’s holdings in Performance Food Group were worth $113,093,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its stake in Performance Food Group by 15.1% during the second quarter. Cubist Systematic Strategies LLC now owns 64,878 shares of the food distribution company’s stock valued at $4,289,000 after purchasing an additional 8,499 shares during the last quarter. Masterton Capital Management LP increased its holdings in shares of Performance Food Group by 157.9% in the second quarter. Masterton Capital Management LP now owns 106,621 shares of the food distribution company’s stock valued at $7,049,000 after buying an additional 65,272 shares in the last quarter. Point72 DIFC Ltd lifted its position in shares of Performance Food Group by 276.3% during the 2nd quarter. Point72 DIFC Ltd now owns 39,350 shares of the food distribution company’s stock valued at $2,601,000 after acquiring an additional 28,893 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Performance Food Group by 21.5% during the 2nd quarter. Bank of Montreal Can now owns 703,278 shares of the food distribution company’s stock worth $49,497,000 after acquiring an additional 124,509 shares in the last quarter. Finally, Magnetar Financial LLC grew its holdings in shares of Performance Food Group by 174.0% in the 2nd quarter. Magnetar Financial LLC now owns 70,226 shares of the food distribution company’s stock worth $4,643,000 after acquiring an additional 44,599 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Performance

PFGC stock opened at $77.44 on Wednesday. The firm has a 50 day simple moving average of $70.91 and a 200 day simple moving average of $70.25. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The stock has a market cap of $12.07 billion, a P/E ratio of 28.90, a P/E/G ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last issued 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 net margin of 0.75% and a return on equity of 17.03%. The company had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several analyst reports. 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. Morgan Stanley cut their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. BMO Capital Markets raised their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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.