Custom Index Systems LLC Invests $383,000 in Performance Food Group (NYSE:PFGC)

Custom Index Systems LLC acquired a new stake in shares of Performance Food Group (NYSE:PFGC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,800 shares of the food distribution company’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in shares of Performance Food Group by 414.1% during the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after buying an additional 1,770,683 shares during the last quarter. Norges Bank bought a new stake in Performance Food Group in the fourth quarter worth approximately $119,726,000. Wellington Management Group LLP increased its stake in shares of Performance Food Group by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after purchasing an additional 397,114 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Performance Food Group during the 4th quarter valued at $11,410,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Performance Food Group in the 4th quarter valued at $11,230,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

PFGC has been the topic of several analyst reports. Morgan Stanley lowered their target price 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. Wells Fargo & Company increased their price objective on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price target on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.38.

Insider Buying and Selling

In other news, insider Patrick T. Hagerty sold 8,000 shares of the company’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 value of $596,480.00. Following the sale, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction 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 completion of the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction dated 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 sale, the insider now owns 531,556 shares of the company’s stock, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock valued at $7,426,075 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Stock Down 2.2 %

Shares of PFGC stock opened at $71.50 on Monday. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54. 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 firm has a market cap of $11.14 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44. The stock has a 50 day moving average of $68.30 and a 200-day moving average of $70.40.

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 quarter last year, the company earned $1.14 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Performance Food Group will post 4.87 EPS for the current year.

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.