Lecap Asset Management Ltd. Acquires 15,581 Shares of Performance Food Group (NYSE:PFGC)

Lecap Asset Management Ltd. grew its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 207.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,106 shares of the food distribution company's stock after acquiring an additional 15,581 shares during the period. Lecap Asset Management Ltd.'s holdings in Performance Food Group were worth $1,811,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PFGC. Primecap Management Co. CA raised its position in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company's stock valued at $107,447,000 after buying an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Performance Food Group by 27.9% in the second 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 in the last quarter. Point72 Asset Management L.P. raised its position in shares of Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company's stock valued at $113,093,000 after buying an additional 372,218 shares in the last quarter. Eminence Capital LP raised its position in shares of Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company's stock valued at $158,572,000 after buying an additional 164,472 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Performance Food Group by 574.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 173,381 shares of the food distribution company's stock valued at $11,462,000 after buying an additional 147,681 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Trading Down 1.2 %

PFGC stock traded down $1.01 during midday trading on Wednesday, hitting $81.50. The stock had a trading volume of 792,571 shares, compared to its average volume of 1,015,724. The firm has a market cap of $12.70 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Performance Food Group has a 1-year low of $54.71 and a 1-year high of $83.70. The business has a fifty day moving average price of $76.56 and a two-hundred day moving average price of $71.00.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The business had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. Performance Food Group's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, sell-side analysts predict that Performance Food Group will post 4.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PFGC shares. Morgan Stanley dropped their price target on shares of Performance Food Group from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. StockNews.com raised shares of Performance Food Group from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Barclays lifted their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a research note on Tuesday. Jefferies Financial Group boosted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Finally, BMO Capital Markets boosted their target price 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and a consensus price target of $88.88.

Insider Activity at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the transaction, the insider now owns 149,863 shares in the company, valued at approximately $11,185,774.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider George L. Holm sold 63,500 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott E. Mcpherson sold 25,000 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the transaction, the insider now owns 149,863 shares in the company, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock worth $7,426,075 over the last quarter. Company insiders own 2.80% of the company's stock.

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.