Y Intercept Hong Kong Ltd Acquires Shares of 24,538 Performance Food Group (NYSE:PFGC)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Performance Food Group (NYSE:PFGC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,538 shares of the food distribution company's stock, valued at approximately $2,075,000.

A number of other institutional investors also recently modified their holdings of the company. TimesSquare Capital Management LLC boosted its position in shares of Performance Food Group by 658.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock valued at $38,902,000 after purchasing an additional 399,430 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of Performance Food Group in the 4th quarter worth about $404,000. Truist Financial Corp increased its stake in shares of Performance Food Group by 3.4% in the 4th quarter. Truist Financial Corp now owns 73,291 shares of the food distribution company's stock worth $6,197,000 after acquiring an additional 2,382 shares in the last quarter. CIBC Asset Management Inc lifted its position in Performance Food Group by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 4,761 shares of the food distribution company's stock valued at $403,000 after acquiring an additional 247 shares during the period. Finally, Principal Securities Inc. boosted its stake in 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 worth $111,000 after acquiring an additional 297 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have recently commented on PFGC shares. UBS Group boosted their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Truist Financial boosted their target price on Performance Food Group from $88.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Melius began coverage on Performance Food Group in a report on Wednesday, December 18th. They set a "hold" rating and a $95.00 price target for the company. StockNews.com lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, Melius Research raised shares of Performance Food Group to a "hold" rating in a research report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $95.73.

Performance Food Group Stock Up 2.9 %

PFGC traded up $2.42 during trading on Friday, hitting $85.22. The stock had a trading volume of 1,088,982 shares, compared to its average volume of 1,173,943. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The stock has a 50 day simple moving average of $86.27 and a two-hundred day simple moving average of $82.49. 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 company has a market capitalization of $13.31 billion, a PE ratio of 34.36, a PEG ratio of 0.96 and a beta of 1.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results 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 net margin of 0.64% and a return on equity of 16.58%. On average, research analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Insider Activity

In other news, insider Craig Howard Hoskins sold 20,496 shares of the company's stock in a transaction 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 completion of the sale, the insider now 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 filing with the Securities & Exchange Commission, which is available through 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.