Hanlon Investment Management Inc. Boosts Stake in Performance Food Group (NYSE:PFGC)

Hanlon Investment Management Inc. lifted its position in Performance Food Group (NYSE:PFGC) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,756 shares of the food distribution company’s stock after acquiring an additional 745 shares during the period. Hanlon Investment Management Inc.’s holdings in Performance Food Group were worth $976,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Performance Food Group during the first quarter worth about $29,000. Innealta Capital LLC bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $30,000. Mather Group LLC. purchased a new stake in shares of Performance Food Group in the 1st quarter worth approximately $44,000. GAMMA Investing LLC increased its position in Performance Food Group by 65.2% during the 2nd quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock valued at $58,000 after buying an additional 349 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Performance Food Group during the 4th quarter valued at approximately $87,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Transactions at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the transaction, the insider now directly owns 149,863 shares of the company’s stock, valued at approximately $11,185,774.32. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock valued at $7,426,075 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PFGC shares. Truist Financial increased their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets lifted their target price on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $86.38.

Performance Food Group Stock Performance

NYSE:PFGC opened at $71.50 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64. The stock has a 50-day simple moving average of $68.30 and a two-hundred day simple moving average of $70.46. The firm has a market capitalization of $11.14 billion, a PE ratio of 26.70, a P/E/G ratio of 0.82 and a beta of 1.44. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. Analysts forecast that Performance Food Group will post 4.87 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.