PDT Partners LLC Reduces Holdings in Performance Food Group (NYSE:PFGC)

PDT Partners LLC reduced its stake in Performance Food Group (NYSE:PFGC - Free Report) by 36.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,482 shares of the food distribution company's stock after selling 5,957 shares during the period. PDT Partners LLC's holdings in Performance Food Group were worth $821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $6,843,000. Aigen Investment Management LP grew its position in Performance Food Group by 56.1% during the 3rd quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company's stock valued at $1,330,000 after purchasing an additional 6,099 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Performance Food Group during the 3rd quarter valued at about $3,032,000. Dimensional Fund Advisors LP raised its holdings 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 worth $142,170,000 after acquiring an additional 469,500 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Performance Food Group by 14.2% during the third quarter. Natixis Advisors LLC now owns 221,544 shares of the food distribution company's stock valued at $17,363,000 after purchasing an additional 27,586 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PFGC. BMO Capital Markets raised their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. UBS Group upped their target price 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. Morgan Stanley reiterated an "equal weight" rating and set a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Barclays upped their price objective on 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, Jefferies Financial Group lifted their target price on Performance Food Group from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Performance Food Group has an average rating of "Moderate Buy" and an average price target of $94.27.

Performance Food Group Trading Up 0.4 %

Shares of NYSE:PFGC traded up $0.32 during trading on Tuesday, reaching $88.59. 1,198,860 shares of the company were exchanged, compared to its average volume of 1,021,962. The business's fifty day simple moving average is $82.97 and its 200-day simple moving average is $74.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $89.73. The firm has a market capitalization of $13.80 billion, a PE ratio of 32.69, a P/E/G ratio of 0.95 and a beta of 1.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its 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). The firm had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. On average, research analysts anticipate that Performance Food Group will post 4.73 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the transaction, the insider now owns 192,868 shares of the company's stock, valued at $17,026,387.04. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company's stock.

Performance Food Group 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.