Should You Consider Investing in Performance Food Group (PFGC)?

·2 min read

ClearBridge Investments, an investment management firm, published its “Small Cap Growth Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. During the third quarter, the ClearBridge Small Cap Growth Strategy outperformed its Russell 2000 Growth benchmark. On an absolute basis, the Strategy had gains across two of the 10 sectors in which it was invested during the quarter (out of 11 sectors total), with the IT and materials sectors the leading contributors, while the health care and consumer discretionary sectors were the primary detractors. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Small Cap Growth Strategy, in its Q3 2021 investor letter, mentioned Performance Food Group Company (NYSE: PFGC) and discussed its stance on the firm. Performance Food Group Company is a Richmond, Virginia-based food service provider with a $7.1 billion market capitalization. PFGC delivered a 1.09% return since the beginning of the year, while its 12-month returns are down by -0.17%. The stock closed at $46.39 per share on January 03, 2022

Here is what ClearBridge Small Cap Growth Strategy has to say about Performance Food Group Company in its Q3 2021 investor letter:

"Unsurprisingly, many of our companies have been acquisitive given favorable financing terms and availability as well as sellers willing to divest given possible changes in U.S. tax policy. In addition, we gained shares of restaurant and food service supplier Performance Food Group following its acquisition of existing holding Core-Mark, a supplier to convenience stores."

Pixabay/Public Domain

Based on our calculations, Performance Food Group Company (NYSE: PFGC) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. PFGC was in 36 hedge fund portfolios at the end of the third quarter of 2021, compared to 41 funds in the previous quarter. Performance Food Group Company (NYSE: PFGC) delivered a -4.90% return in the past 3 months.

In October 2021, we also shared another hedge fund's views on PFGC in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.

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