Performance Food Group (NYSE:PFGC) Stock Position Raised by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its position in shares of Performance Food Group (NYSE:PFGC) by 658.3% in the fourth quarter, Holdings Channel reports. The firm owned 460,105 shares of the food distribution company’s stock after buying an additional 399,430 shares during the period. TimesSquare Capital Management LLC’s holdings in Performance Food Group were worth $38,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Performance Food Group by 26.3% during the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after purchasing an additional 2,773,547 shares in the last quarter. State Street Corp raised its stake in shares of Performance Food Group by 2.2% in the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after acquiring an additional 97,069 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after acquiring an additional 401,235 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after acquiring an additional 724,094 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Performance Food Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company’s stock valued at $202,803,000 after acquiring an additional 36,385 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $86.59 on Wednesday. The business’s 50 day moving average is $86.87 and its 200-day moving average is $81.67. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $13.53 billion, a PE ratio of 34.91, a PEG ratio of 0.99 and a beta of 1.44. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS 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%. Sell-side analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of recent analyst reports. Morgan Stanley raised their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Truist Financial raised their price objective on Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Barclays cut their price objective on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Melius started coverage on Performance Food Group in a research note on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.73.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total value of $1,733,961.60. Following the transaction, the insider now owns 172,372 shares of the company’s stock, valued at approximately $14,582,671.20. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.

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.