Aigen Investment Management LP Raises Position in Performance Food Group (NYSE:PFGC)

Aigen Investment Management LP raised its stake in Performance Food Group (NYSE:PFGC - Free Report) by 56.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,974 shares of the food distribution company's stock after acquiring an additional 6,099 shares during the period. Aigen Investment Management LP's holdings in Performance Food Group were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors grew its position in Performance Food Group by 0.5% in the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company's stock worth $1,606,782,000 after purchasing an additional 100,244 shares during the last quarter. Eminence Capital LP lifted its holdings 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 worth $158,572,000 after acquiring an additional 164,472 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company's stock valued at $142,170,000 after purchasing an additional 469,500 shares during the period. Point72 Asset Management L.P. increased its stake in Performance Food Group by 27.8% during the 2nd 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 purchasing an additional 372,218 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Performance Food Group by 223.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company's stock worth $107,447,000 after buying an additional 1,122,676 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

PFGC traded down $1.16 during trading hours on Tuesday, hitting $86.09. The company's stock had a trading volume of 727,490 shares, compared to its average volume of 1,027,663. The company has a current ratio of 1.70, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The business's 50-day moving average price is $79.08 and its 200-day moving average price is $72.32. The stock has a market cap of $13.41 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 0.87 and a beta of 1.44. Performance Food Group has a 12 month low of $60.59 and a 12 month high of $89.00.

Performance Food Group (NYSE:PFGC - Get Free Report) last released 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). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $15.22 billion. During the same quarter last year, the company posted $1.15 earnings per share. The business's quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts expect that Performance Food Group will post 4.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PFGC has been the subject of several analyst reports. UBS Group raised their price target on Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, November 7th. BMO Capital Markets raised their target price 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. Deutsche Bank Aktiengesellschaft increased their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. StockNews.com lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $92.00 target price on shares of Performance Food Group in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.50.

Insider Activity

In related news, Director Kimberly Grant sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares of the company's stock, valued at approximately $749,644.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the company'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 sale, the insider now owns 162,987 shares in the company, valued at $12,152,310.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the sale, the director now directly owns 10,184 shares of the company's stock, valued at $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 in the last quarter. Corporate 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.