TimesSquare Capital Management LLC Buys 399,430 Shares of Performance Food Group (NYSE:PFGC)

TimesSquare Capital Management LLC boosted its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 658.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,105 shares of the food distribution company's stock after acquiring an additional 399,430 shares during the period. TimesSquare Capital Management LLC owned 0.30% of Performance Food Group worth $38,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Convergence Investment Partners LLC acquired a new position in Performance Food Group during the 4th quarter worth $404,000. Truist Financial Corp raised its position in shares of Performance Food Group by 3.4% during the fourth quarter. Truist Financial Corp now owns 73,291 shares of the food distribution company's stock valued at $6,197,000 after buying an additional 2,382 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Performance Food Group by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 4,761 shares of the food distribution company's stock valued at $403,000 after buying an additional 247 shares during the last quarter. Principal Securities Inc. raised its position in shares of Performance Food Group by 29.3% during the fourth quarter. Principal Securities Inc. now owns 1,309 shares of the food distribution company's stock valued at $111,000 after buying an additional 297 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Performance Food Group by 0.5% during the fourth quarter. Rhumbline Advisers now owns 424,648 shares of the food distribution company's stock valued at $35,904,000 after buying an additional 2,148 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the sale, the insider now directly owns 172,372 shares of the company's stock, valued at $14,582,671.20. This represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company's stock.

Performance Food Group Price Performance

Performance Food Group stock traded down $2.78 during trading hours on Friday, hitting $81.76. 1,467,096 shares of the stock were exchanged, compared to its average volume of 1,193,771. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The stock has a market capitalization of $12.77 billion, a P/E ratio of 32.97, a P/E/G ratio of 0.98 and a beta of 1.44. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The business's 50-day moving average is $86.71 and its two-hundred day moving average is $81.87.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Equities research analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays cut their price objective on shares of Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Melius assumed coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a "hold" rating and a $95.00 price objective for the company. Melius Research raised shares of Performance Food Group to a "hold" rating in a research report on Wednesday, December 18th. Morgan Stanley upped their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Finally, UBS Group increased their price target on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group has an average rating of "Moderate Buy" and a consensus target price of $95.73.

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.