Lighthouse Investment Partners LLC Has $10.58 Million Holdings in Performance Food Group (NYSE:PFGC)

Lighthouse Investment Partners LLC lifted its stake in shares of Performance Food Group (NYSE:PFGC) by 45.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160,000 shares of the food distribution company’s stock after buying an additional 50,000 shares during the period. Lighthouse Investment Partners LLC owned about 0.10% of Performance Food Group worth $10,578,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in shares of 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 worth $289,000 after purchasing an additional 179 shares during the last quarter. Hanlon Investment Management Inc. grew its stake in shares of Performance Food Group by 1.4% in the first quarter. Hanlon Investment Management Inc. now owns 14,011 shares of the food distribution company’s stock worth $1,046,000 after purchasing an additional 194 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Performance Food Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock worth $819,000 after purchasing an additional 200 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Performance Food Group by 5.8% in the first quarter. QRG Capital Management Inc. now owns 4,243 shares of the food distribution company’s stock worth $317,000 after purchasing an additional 233 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Performance Food Group by 65.2% in the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 349 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Price Performance

PFGC stock opened at $78.68 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.99. The stock has a market capitalization of $12.24 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The company’s 50-day moving average is $71.13 and its 200-day moving average is $70.30.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Performance Food Group will post 4.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were 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 in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the insider now owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 in the last quarter. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PFGC shares. Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Morgan Stanley cut their price target on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. BMO Capital Markets upped their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $87.00.

About Performance Food Group

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.