VELA Investment Management LLC Has $2.54 Million Stake in Performance Food Group (NYSE:PFGC)

VELA Investment Management LLC lifted its holdings in shares of Performance Food Group (NYSE:PFGC) by 12.8% during the second quarter, HoldingsChannel reports. The firm owned 38,378 shares of the food distribution company’s stock after acquiring an additional 4,360 shares during the quarter. VELA Investment Management LLC’s holdings in Performance Food Group were worth $2,537,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Rise Advisors LLC bought a new stake in Performance Food Group during the 1st quarter worth approximately $29,000. Innealta Capital LLC acquired a new position in shares of Performance Food Group in the second quarter valued at approximately $30,000. Mather Group LLC. bought a new stake in shares of Performance Food Group during the first quarter worth $44,000. GAMMA Investing LLC raised 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 acquiring an additional 349 shares during the period. Finally, Principal Securities Inc. bought a new stake in Performance Food Group in the 4th quarter valued at $87,000. Institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PFGC. Wells Fargo & Company increased their target price on Performance Food Group from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Morgan Stanley decreased their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Barclays boosted their target price on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group upped their price target on Performance Food Group from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.38.

Performance Food Group Price Performance

NYSE:PFGC opened at $73.15 on Friday. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.54. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $68.19 and its two-hundred day moving average price is $70.48.

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

Insider Transactions at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the sale, the director now directly owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. 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 ninety days. Insiders own 2.60% of the company’s stock.

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.