Inscription Capital LLC Raises Stake in Performance Food Group (NYSE:PFGC)

by · The Markets Daily

Inscription Capital LLC grew its stake in shares of Performance Food Group (NYSE:PFGC – Free Report) by 605.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,300 shares of the food distribution company’s stock after purchasing an additional 61,200 shares during the quarter. Performance Food Group makes up approximately 0.8% of Inscription Capital LLC’s portfolio, making the stock its 25th biggest position. Inscription Capital LLC’s holdings in Performance Food Group were worth $5,588,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company’s stock worth $26,000 after purchasing an additional 242 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Performance Food Group during the second quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of Performance Food Group by 414.8% during the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company’s stock valued at $36,000 after acquiring an additional 365 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Performance Food Group during the third quarter valued at $36,000. Finally, GAMMA Investing LLC boosted its position 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 valued at $58,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of PFGC traded up $0.82 during mid-day trading on Monday, reaching $83.37. The stock had a trading volume of 49,632 shares, compared to its average volume of 1,009,153. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 0.83 and a beta of 1.45. Performance Food Group has a 12 month low of $55.15 and a 12 month high of $83.70. The business has a fifty day moving average of $77.10 and a 200 day moving average of $71.23. 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 – Get Free Report) last issued its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. The company 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%. Performance Food Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities analysts predict that Performance Food Group will post 4.88 EPS for the current year.

Wall Street Analysts Forecast Growth

PFGC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barclays upped their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets boosted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, Truist Financial raised their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $90.88.

Check Out Our Latest Stock Analysis on PFGC

Insider Activity

In other news, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the sale, the director now owns 10,184 shares in the company, valued at $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Company Profile

(Free Report)

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.

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