Inscription Capital LLC Acquires 61,200 Shares of Performance Food Group (NYSE:PFGC)

Inscription Capital LLC raised its stake in Performance Food Group (NYSE:PFGC - Free Report) by 605.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,300 shares of the food distribution company's stock after buying an additional 61,200 shares during the period. Performance Food Group accounts for 0.8% of Inscription Capital LLC's holdings, making the stock its 25th largest holding. Inscription Capital LLC's holdings in Performance Food Group were worth $5,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its holdings in shares of Performance Food Group by 2.4% during the third quarter. State of Alaska Department of Revenue now owns 53,103 shares of the food distribution company's stock worth $4,160,000 after purchasing an additional 1,225 shares during the period. Highland Capital Management LLC acquired a new position in shares of Performance Food Group during the third quarter worth $214,000. Assenagon Asset Management S.A. lifted its holdings in shares of Performance Food Group by 166.1% during the third quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company's stock worth $21,588,000 after purchasing an additional 171,953 shares during the period. International Assets Investment Management LLC raised its stake in Performance Food Group by 701.5% during the third quarter. International Assets Investment Management LLC now owns 12,696 shares of the food distribution company's stock worth $995,000 after buying an additional 11,112 shares during the last quarter. Finally, Lecap Asset Management Ltd. raised its stake in Performance Food Group by 207.1% during the third quarter. Lecap Asset Management Ltd. now owns 23,106 shares of the food distribution company's stock worth $1,811,000 after buying an additional 15,581 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Stock Down 0.6 %

Shares of NYSE:PFGC traded down $0.50 during midday trading on Monday, hitting $82.05. 834,138 shares of the company's stock were exchanged, compared to its average volume of 1,013,011. 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 stock has a 50 day moving average price of $77.26 and a 200-day moving average price of $71.30. The company has a market cap of $12.79 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. Performance Food Group has a 12 month low of $55.15 and a 12 month high of $83.70.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $15.25 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Performance Food Group will post 4.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PFGC shares. Truist Financial lifted their target price on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. StockNews.com raised shares of Performance Food Group from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Jefferies Financial Group lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.88.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of the business's 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 transaction, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick T. Hagerty sold 8,000 shares of the business's 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 transaction, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,500 shares of company stock worth $7,426,075. 2.80% of the stock is owned by insiders.

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.