Holocene Advisors LP Raises Stock Position in Performance Food Group (NYSE:PFGC)

Holocene Advisors LP lifted its position in Performance Food Group (NYSE:PFGC) by 32.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,988,053 shares of the food distribution company’s stock after purchasing an additional 724,094 shares during the period. Performance Food Group accounts for about 0.9% of Holocene Advisors LP’s investment portfolio, making the stock its 23rd biggest position. Holocene Advisors LP owned approximately 1.92% of Performance Food Group worth $234,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its position in Performance Food Group by 281.4% during the 3rd quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock valued at $26,000 after purchasing an additional 242 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Performance Food Group during the third quarter valued at $26,000. Venturi Wealth Management LLC increased its stake in shares of Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock valued at $32,000 after buying an additional 274 shares during the period. UMB Bank n.a. raised its holdings in shares of Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Performance Food Group in the second quarter worth about $30,000. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

PFGC has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Barclays increased their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Truist Financial increased their target price on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

Performance Food Group Trading Up 0.4 %

Shares of Performance Food Group stock opened at $88.24 on Monday. The firm’s 50 day simple moving average is $82.53 and its two-hundred day simple moving average is $73.96. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 0.95 and a beta of 1.44. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $89.73. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The company had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. Performance Food Group’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. Analysts predict that Performance Food Group will post 4.73 EPS for the current year.

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.