Picton Mahoney Asset Management Buys Shares of 59,333 Performance Food Group (NYSE:PFGC)

Picton Mahoney Asset Management acquired a new stake in Performance Food Group (NYSE:PFGC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,333 shares of the food distribution company's stock, valued at approximately $5,015,000.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in shares of Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock valued at $32,000 after acquiring an additional 274 shares during the period. Central Pacific Bank Trust Division bought a new position in Performance Food Group in the fourth quarter worth $42,000. Blue Trust Inc. lifted its position in Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after purchasing an additional 212 shares during the period. V Square Quantitative Management LLC lifted its position in Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock worth $60,000 after purchasing an additional 239 shares during the period. Finally, UMB Bank n.a. lifted its position in Performance Food Group by 69.1% in the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock worth $65,000 after purchasing an additional 313 shares during the period. 96.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PFGC shares. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Barclays reduced their target price on 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 began coverage on Performance Food Group in a report on Wednesday, December 18th. They set a "hold" rating and a $95.00 price objective for the company. Morgan Stanley lifted their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Finally, Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.73.

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Performance Food Group Price Performance

Shares of NYSE:PFGC traded down $1.66 during midday trading on Thursday, reaching $75.91. The company's stock had a trading volume of 972,031 shares, compared to its average volume of 1,054,624. The business's fifty day simple moving average is $84.54 and its 200-day simple moving average is $83.10. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The company has a market capitalization of $11.86 billion, a P/E ratio of 30.61, a P/E/G ratio of 0.96 and a beta of 1.40. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

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

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the transaction, the insider now owns 172,372 shares in the company, valued at $14,582,671.20. The trade was a 10.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.