Jupiter Topco LLC Purchases Shares of 70,376 Performance Food Group Company $PFGC

Jupiter Topco LLC acquired a new stake in Performance Food Group Company (NYSE:PFGC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70,376 shares of the food distribution company’s stock, valued at approximately $7,863,000.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Performance Food Group during the 2nd quarter valued at approximately $1,576,983,000. Primecap Management Co. CA bought a new position in shares of Performance Food Group during the second quarter worth $305,064,000. Norges Bank purchased a new position in Performance Food Group during the fourth quarter valued at $208,170,000. Wellington Management Group LLP increased its holdings in Performance Food Group by 46.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after purchasing an additional 1,168,869 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of PFGC stock opened at $100.78 on Monday. The stock has a 50 day moving average price of $110.04 and a 200 day moving average price of $98.63. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $117.47. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.67 and a current ratio of 1.51. The firm has a market capitalization of $15.88 billion, a P/E ratio of 44.01, a P/E/G ratio of 1.30 and a beta of 0.91.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.11 billion. During the same period last year, the company earned $0.84 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that Performance Food Group Company will post 5.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PFGC shares. Wells Fargo & Company increased their price target on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. UBS Group reduced their price objective on Performance Food Group from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Guggenheim raised their price objective on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, Barclays lifted their target price on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and a consensus price target of $126.90.

Insider Buying and Selling

In related news, insider Donald S. Bulmer sold 10,535 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $105.90, for a total value of $1,115,656.50. Following the transaction, the insider owned 54,291 shares of the company’s stock, valued at $5,749,416.90. This trade represents a 16.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erika T. Davis sold 8,008 shares of Performance Food Group stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $834,513.68. Following the sale, the insider owned 43,986 shares of the company’s stock, valued at $4,583,781.06. The trade was a 15.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,750 shares of company stock valued at $5,722,370 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.