Insider Trading At Performance Food Group Co While Institutional Investment Remains Strong
By Elaine Mendonça
On February 13th, Performance Food Group Co experienced a 970-share reduction in its stock value as insider Donald S. Bulmer sold his shares at an average price of US$59.81, amounting to a total of US$58,015.70. The transaction was officially reported in a filing with the Securities & Exchange Commission and subsequently made available on their website.
Despite this sale, PFGC continues to attract institutional investment from firms such as Mach 1 Financial Group LLC, which recently acquired 9,686 shares valued at approximately US$566,000. This is further evidence that PFGC is seen as a lucrative option in the market and continues to grow accordingly.
Performance Food Group Co is well-established within the food distribution industry, operating through three distinct segments: Foodservice, Vistar and Convenience. Its products are delivered directly to various markets including independent restaurants and chain restaurants.
Another insider trade took place more recently when Patrick T. Hagerty sold 500 shares of the company’s stock at an average price of $56.31 on March 1st – this equated to a total transaction worth US$28,155. Corporate insiders now own just 2.80 per cent of PFGC’s stock with insider sales valued overall at US$116,801 over the last quarter.
PFGC’s growth trajectory remains bullish despite recent insider trading patterns; its continued expansion across various market segments ensures it maintains consistent investor interest in the coming quarters. Investment and Growth: An Overview of Performance Food Group Co’s Recent Developments
Performance Food Group Co: An Overview of Recent Developments
Performance Food Group Co (PFGC) has recently been in the news due to significant investments by institutional investors and hedge funds. According to a recent report, Jupiter Asset Management Ltd. purchased a new stake in PFGC shares worth US$954,000, while Renaissance Technologies LLC invested US$34,115,000. Other notable investments were made by Sunriver Management LLC and New York State Teachers Retirement System.
As of now, approximately 97.35 per cent of PFGC’s stock is owned by hedge funds and other institutional investors. This indicates a high degree of investor confidence in the company’s prospects for growth and profitability.
Equities research analysts have also issued positive reports on PFGC. The company’s stock has received an average rating of “Moderate Buy” with a consensus target price of US$72.36. Notable research firms like Wells Fargo & Company and Barclays have increased their price targets for the stock.
Performance Food Group Co operates through three segments: Foodservice, Vistar, & Convenience. Its Foodservices segment provides food products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.
PFGC’s latest quarterly earnings report (for February 2021) showed impressive results that beat analyst expectations. The company reported US$0.83 earnings per share for the quarter with revenue standing at US$13.90 billion.
Furthermore, the company’s share value saw an increase as it opened at US$60.93 (on Friday). Over the last 52 weeks, PFGC has traded between a low of US$38.23 and a high of US$63.13.
In conclusion, Performance Food Group Co is experiencing significant growth with strong earnings and investment from top hedge funds and institutional investors amidst increasing demand for its products across various market segments such as restaurants and convenience stores etc..
