Primecap Management Co. CA Acquires 473,050 Shares of Performance Food Group (NYSE:PFGC)

Primecap Management Co. CA increased its stake in Performance Food Group (NYSE:PFGC - Free Report) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,098,330 shares of the food distribution company's stock after acquiring an additional 473,050 shares during the period. Primecap Management Co. CA owned approximately 1.35% of Performance Food Group worth $164,446,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. Point72 Asset Management L.P. boosted its stake in Performance Food Group by 27.8% during the second 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 buying an additional 372,218 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Performance Food Group by 166.1% in 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 acquiring an additional 171,953 shares in the last quarter. Eminence Capital LP lifted its holdings in Performance Food Group by 7.4% in the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company's stock valued at $158,572,000 after acquiring an additional 164,472 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in Performance Food Group by 574.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 173,381 shares of the food distribution company's stock valued at $11,462,000 after acquiring an additional 147,681 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Stock Up 1.4 %

Shares of PFGC traded up $1.19 during trading hours on Friday, reaching $87.59. The company's stock had a trading volume of 798,723 shares, compared to its average volume of 1,025,411. The company has a 50 day moving average of $81.05 and a two-hundred day moving average of $73.17. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 0.89 and a beta of 1.44. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $89.00.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm'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 EPS. As a group, research analysts predict that Performance Food Group will post 4.73 EPS for the current fiscal year.

Analyst Ratings Changes

PFGC has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Guggenheim upped their price target on Performance Food Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Barclays raised 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Finally, UBS Group increased their price target on Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.27.

Insider Activity at Performance Food Group

In other news, insider Patrick T. Hagerty sold 8,000 shares of the firm's stock in a transaction on 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 owns 162,987 shares in the company, valued at approximately $12,152,310.72. This trade represents a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company's stock.

Performance Food Group Company 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.