Performance Food Group (NYSE:PFGC) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its stake in Performance Food Group (NYSE:PFGC - Free Report) by 203.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,664 shares of the food distribution company's stock after buying an additional 15,185 shares during the quarter. Entropy Technologies LP's holdings in Performance Food Group were worth $1,776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PFGC. Atria Investments Inc boosted its holdings in Performance Food Group by 79.3% during the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company's stock valued at $2,180,000 after acquiring an additional 12,919 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Performance Food Group in the second quarter worth about $6,843,000. Magnetar Financial LLC bought a new stake in Performance Food Group during the 1st quarter valued at about $1,913,000. Dimensional Fund Advisors LP boosted its position in Performance Food Group by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company's stock valued at $142,170,000 after buying an additional 469,500 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Performance Food Group by 27.8% during the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company's stock worth $113,093,000 after acquiring an additional 372,218 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider George L. Holm sold 63,500 shares of the company'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 transaction of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company's stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider George L. Holm sold 63,500 shares of the firm's 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 transaction, the insider now directly owns 531,556 shares of the company's stock, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the business's 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 owns 162,987 shares of the company's stock, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley reiterated an "equal weight" rating and issued a $92.00 target price on shares of Performance Food Group in a report on Monday, October 28th. UBS Group boosted their price target on shares of Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Barclays boosted their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their target price on Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $94.50.

Performance Food Group Stock Performance

Shares of Performance Food Group stock traded down $0.70 on Wednesday, reaching $85.39. 266,820 shares of the stock were exchanged, compared to its average volume of 1,024,205. Performance Food Group has a twelve month low of $61.29 and a twelve month high of $89.00. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 0.93 and a beta of 1.44. The business has a 50 day moving average price of $79.33 and a two-hundred day moving average price of $72.45.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $15.22 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The firm's revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Performance Food Group will post 4.71 earnings per share for the current fiscal 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.