Squarepoint Ops LLC Reduces Stake in Performance Food Group (NYSE:PFGC)

Squarepoint Ops LLC reduced its holdings in shares of Performance Food Group (NYSE:PFGC) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,404 shares of the food distribution company’s stock after selling 309 shares during the quarter. Squarepoint Ops LLC’s holdings in Performance Food Group were worth $423,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PFGC. Rise Advisors LLC purchased a new position in Performance Food Group in the 1st quarter worth approximately $29,000. Innealta Capital LLC purchased a new stake in shares of Performance Food Group during the second quarter valued at approximately $30,000. Mather Group LLC. bought a new position in shares of Performance Food Group in the first quarter worth approximately $44,000. GAMMA Investing LLC raised its holdings 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 during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Performance Food Group in the 2nd quarter worth $105,000. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Stock Down 0.7 %

Shares of Performance Food Group stock opened at $79.96 on Friday. The company has a 50-day simple moving average of $73.56 and a two-hundred day simple moving average of $70.48. The stock has a market capitalization of $12.44 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $81.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The firm had revenue of $15.20 billion for 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 business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. On average, analysts anticipate that Performance Food Group will post 4.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PFGC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley reduced their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on shares of Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group raised their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.63.

Insider Transactions at Performance Food Group

In related news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the sale, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the completion of the transaction, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick T. Hagerty sold 8,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 162,987 shares in the company, valued at approximately $12,152,310.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.