10 Most Profitable Consumer Defensive Stocks to Buy Now

4. Performance Food Group Company (NYSE:PFGC)

Number of Hedge Fund holdings: 47

Moody Lynn & Lieberson LLC acquired a new stake in Performance Food Group Company (NYSE:PFGC) during the second quarter. Following the purchase of 15,892 shares of the company’s stock, the firm’s investment now amounts to approximately $1,390,000.

Just recently, Performance Food Group Company (NYSE:PFGC) announced that it has signed a cooperation agreement with Sachem Head Capital Management LP, an activist investor. Under the terms, Sachem Head Scott Ferguson has been appointed as a director, bringing the board to thirteen directors, who will serve on the company’s Audit and Finance Committee. All key M&A transactions and other strategic alternatives are assessed in this division, rendering this appointment highly important.

As cited by the CEO of Performance Food Group Company (NYSE:PFGC), George Holm,

This outcome is the result of constructive engagement with Scott and his team and demonstrates our board’s openness to fresh perspectives.

Performance Food Group Company (NYSE:PFGC) is a Virginia-based company that markets and distributes food and food-related products in North America. With three main segments: Foodservice, Convenience, and Specialty, the company is committed to being the innovative leader in providing customer satisfaction.