Cubist Systematic Strategies LLC Grows Stock Position in Performance Food Group (NYSE:PFGC)

Cubist Systematic Strategies LLC boosted its stake in shares of Performance Food Group (NYSE:PFGC) by 15.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 64,878 shares of the food distribution company’s stock after acquiring an additional 8,499 shares during the period. Cubist Systematic Strategies LLC’s holdings in Performance Food Group were worth $4,289,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PFGC. Rise Advisors LLC purchased a new stake in shares of Performance Food Group during the 1st quarter worth $29,000. Innealta Capital LLC acquired a new stake in Performance Food Group in the second quarter valued at $30,000. Mather Group LLC. purchased a new stake in Performance Food Group during the 1st quarter worth about $44,000. GAMMA Investing LLC boosted its position in shares of Performance Food Group by 65.2% during the 2nd quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after acquiring an additional 349 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Performance Food Group in the 2nd quarter valued at about $105,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PFGC. Deutsche Bank Aktiengesellschaft increased 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 note on Thursday, August 15th. Barclays lifted their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Truist Financial upped their price objective on shares of Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley cut their target price on 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. Finally, Wells Fargo & Company upped their target price on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.00.

Insider Transactions at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of the business’s 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 transaction, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction that occurred 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 sale, the insider now directly owns 162,987 shares in the company, valued at $12,152,310.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider George L. Holm sold 63,500 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,500 shares of company stock worth $7,426,075. Company insiders own 2.60% of the company’s stock.

Performance Food Group Stock Down 0.5 %

PFGC opened at $78.21 on Friday. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $79.59. The business has a 50 day moving average price of $71.65 and a two-hundred day moving average price of $70.38. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The company has a market cap of $12.19 billion, a PE ratio of 29.18, a P/E/G ratio of 0.85 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Performance Food Group will post 4.87 EPS for the current year.

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.