Ionic Capital Management LLC Buys 3,000 Shares of Performance Food Group (NYSE:PFGC)

Ionic Capital Management LLC boosted its stake in shares of Performance Food Group (NYSE:PFGC) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,524 shares of the food distribution company’s stock after buying an additional 3,000 shares during the quarter. Ionic Capital Management LLC’s holdings in Performance Food Group were worth $1,530,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Holocene Advisors LP boosted its stake in shares of Performance Food Group by 32.0% during 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 purchasing an additional 724,094 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Performance Food Group by 29.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 42,368 shares of the food distribution company’s stock valued at $3,320,000 after buying an additional 9,599 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in Performance Food Group by 89.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,558 shares of the food distribution company’s stock worth $357,000 after purchasing an additional 2,149 shares during the period. Captrust Financial Advisors grew its position in shares of Performance Food Group by 4.8% in the 3rd quarter. Captrust Financial Advisors now owns 21,363 shares of the food distribution company’s stock worth $1,674,000 after buying an additional 981 shares during the last quarter. Finally, Martingale Asset Management L P increased its holdings in shares of Performance Food Group by 1.3% in the third quarter. Martingale Asset Management L P now owns 63,812 shares of the food distribution company’s stock valued at $5,001,000 after purchasing an additional 849 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the transaction, the insider now directly owns 192,868 shares of the company’s stock, valued at $17,026,387.04. This represents a 9.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Stock Performance

Performance Food Group stock opened at $88.27 on Tuesday. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $89.73. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The stock has a market cap of $13.75 billion, a PE ratio of 32.57, a P/E/G ratio of 0.95 and a beta of 1.44. The business’s 50-day moving average price is $82.75 and its two-hundred day moving average price is $74.06.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFGC. Piper Sandler increased their price target on Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Wells Fargo & Company increased their target price on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a research report on Monday, October 28th. Truist Financial raised their price target on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Guggenheim lifted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group 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.