Picton Mahoney Asset Management Makes New Investment in Performance Food Group (NYSE:PFGC)

Picton Mahoney Asset Management acquired a new stake in Performance Food Group (NYSE:PFGC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,333 shares of the food distribution company’s stock, valued at approximately $5,015,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC boosted its stake in shares of Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock valued at $1,043,293,000 after purchasing an additional 2,773,547 shares during the period. State Street Corp boosted its stake in shares of Performance Food Group by 2.2% in the third quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after purchasing an additional 97,069 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after purchasing an additional 2,371,818 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after purchasing an additional 401,235 shares during the period. Finally, Holocene Advisors LP boosted its stake in shares of Performance Food Group by 32.0% in the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after purchasing an additional 724,094 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

PFGC has been the subject of several recent research reports. Melius Research raised shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Melius assumed coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.73.

Insider Activity

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction on Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the transaction, the insider now directly owns 172,372 shares of the company’s stock, valued at $14,582,671.20. The trade was a 10.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Stock Up 2.4 %

PFGC stock opened at $76.66 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The company’s 50 day moving average is $85.00 and its two-hundred day moving average is $83.05. The stock has a market cap of $11.98 billion, a P/E ratio of 30.91, a PEG ratio of 0.96 and a beta of 1.40.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Research analysts expect that Performance Food Group will post 4.58 earnings per share for the current fiscal 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.