Edgestream Partners L.P. Makes New $5.63 Million Investment in Performance Food Group (NYSE:PFGC)

Edgestream Partners L.P. acquired a new stake in Performance Food Group (NYSE:PFGC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 85,190 shares of the food distribution company's stock, valued at approximately $5,632,000. Edgestream Partners L.P. owned approximately 0.05% of Performance Food Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Performance Food Group in the 1st quarter valued at about $29,000. Innealta Capital LLC purchased a new position in shares of Performance Food Group in the second quarter valued at approximately $30,000. Mather Group LLC. acquired a new position in shares of Performance Food Group in the first quarter valued at approximately $44,000. GAMMA Investing LLC increased its stake in 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 buying an additional 349 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Performance Food Group during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Insiders Place Their Bets

In related news, insider Patrick T. Hagerty sold 8,000 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now owns 162,987 shares of the company's stock, valued at $12,152,310.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider George L. Holm sold 63,500 shares of the firm's stock in a transaction on 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group 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 directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock valued at $7,426,075 over the last quarter. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

PFGC has been the subject of several research reports. BMO Capital Markets boosted their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. StockNews.com raised Performance Food Group from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased their price target 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. Truist Financial boosted their price objective on Performance Food Group from $86.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group raised their target price on shares of Performance Food Group from $84.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $86.38.

Performance Food Group Stock Up 0.8 %

PFGC stock traded up $0.58 during trading on Tuesday, hitting $75.87. 777,271 shares of the company's stock were exchanged, compared to its average volume of 1,041,395. The business has a 50-day moving average price of $69.31 and a two-hundred day moving average price of $70.25. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 0.80 and a beta of 1.44. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. The company's revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect 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.