5 Food Stocks to Buy Amid Upcoming Global Crisis

2. Performance Food Group Company (NYSE:PFGC)

Number of Hedge Fund Holders: 29

Performance Food Group Company (NYSE:PFGC) is a Virginia-based company that markets and distributes food and food-related products in the United States. The company offers frozen foods, groceries, beverages, beef, pork, poultry, and seafood. The company reported a revenue of $13.08 billion for the first quarter of 2022, up 81.59% year-over-year, outperforming consensus estimates by $3.42 million. 

On May 13, Deutsche Bank analyst Brian Mullan maintained a Buy rating on Performance Food Group Company (NYSE:PFGC) but lowered the firm’s price target on the shares to $58 from $62 after the fiscal Q1 results.

According to Insider Monkey’s data, 29 hedge funds were bullish on Performance Food Group Company (NYSE:PFGC) at the end of Q1 2022, compared to 33 funds in the last quarter. The collective stakes held in Q1 amounted to $619 million. 

Here is what ClearBridge Investments Select Strategy has to say about Performance Food Group Company (NYSE:PFGC) in its Q4 2021 investor letter:

“Performance Food Group is another example of a quality franchise bought during a depressing period for the foodservice industry that has flexed its balance sheet to make acquisitions of weaker players and continues to consolidate its leading market share.”