Seven Eight Capital LP Buys 18,186 Shares of Performance Food Group (NYSE:PFGC)

Seven Eight Capital LP lifted its holdings in shares of Performance Food Group (NYSE:PFGC) by 114.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,026 shares of the food distribution company’s stock after purchasing an additional 18,186 shares during the quarter. Seven Eight Capital LP’s holdings in Performance Food Group were worth $2,249,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Performance Food Group during the first quarter worth approximately $29,000. Innealta Capital LLC bought a new position in shares of Performance Food Group during the second quarter worth approximately $30,000. Mather Group LLC. bought a new position in shares of Performance Food Group during the first quarter worth approximately $44,000. GAMMA Investing LLC increased its holdings in shares of Performance Food Group by 65.2% during the second quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 349 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Performance Food Group during the fourth quarter worth approximately $87,000. 96.87% of the stock is owned by institutional investors.

Insider Activity

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 completion of the transaction, the insider now owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at approximately $12,152,310.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,500 shares of company stock valued at $7,426,075. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Truist Financial increased their price target on shares of Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company raised their target price on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.38.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $75.48 on Thursday. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a market capitalization of $11.76 billion, a P/E ratio of 28.16, a P/E/G ratio of 0.80 and a beta of 1.44. The company’s 50 day moving average price is $69.86 and its two-hundred day moving average price is $70.28.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. On average, equities analysts forecast that Performance Food Group will post 4.87 earnings per share for the current fiscal 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.