VELA Investment Management LLC Increases Position in Performance Food Group (NYSE:PFGC)

VELA Investment Management LLC raised its holdings in shares of Performance Food Group (NYSE:PFGC) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,896 shares of the food distribution company’s stock after purchasing an additional 4,518 shares during the quarter. Performance Food Group accounts for about 1.0% of VELA Investment Management LLC’s portfolio, making the stock its 23rd largest position. VELA Investment Management LLC’s holdings in Performance Food Group were worth $3,362,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in Performance Food Group by 260.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 891 shares of the food distribution company’s stock valued at $70,000 after purchasing an additional 644 shares in the last quarter. US Bancorp DE boosted its stake in Performance Food Group by 9.2% during the third quarter. US Bancorp DE now owns 3,758 shares of the food distribution company’s stock worth $295,000 after buying an additional 316 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Performance Food Group by 18.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,252 shares of the food distribution company’s stock valued at $333,000 after purchasing an additional 649 shares during the period. abrdn plc boosted its stake in shares of Performance Food Group by 7.5% in the third quarter. abrdn plc now owns 17,050 shares of the food distribution company’s stock valued at $1,336,000 after purchasing an additional 1,183 shares during the period. Finally, Smith Group Asset Management LLC lifted its stake in Performance Food Group by 1.9% in the third quarter. Smith Group Asset Management LLC now owns 246,109 shares of the food distribution company’s stock worth $19,288,000 after acquiring an additional 4,607 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction 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 transaction, the insider now owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the sale, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. 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 90 days. Insiders own 2.80% of the company’s stock.

Performance Food Group Trading Down 0.5 %

Shares of Performance Food Group stock traded down $0.39 during trading hours on Friday, hitting $80.86. The company’s stock had a trading volume of 868,760 shares, compared to its average volume of 1,011,029. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The company has a market capitalization 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 12 month low of $58.79 and a 12 month high of $83.70. The stock has a 50 day moving average of $77.86 and a 200 day moving average of $71.61.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data 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. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. Analysts predict that Performance Food Group will post 4.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of analyst reports. Truist Financial lifted 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 report on Thursday, August 15th. Wells Fargo & Company upped their price target on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.88.

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.