Bank of Montreal Can Reduces Position in Performance Food Group (NYSE:PFGC)

Bank of Montreal Can cut its stake in Performance Food Group (NYSE:PFGC - Free Report) by 60.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 205,476 shares of the food distribution company's stock after selling 307,929 shares during the quarter. Bank of Montreal Can owned about 0.13% of Performance Food Group worth $17,373,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFGC. JPMorgan Chase & Co. boosted its stake in Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after buying an additional 401,235 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Performance Food Group by 134.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock valued at $54,665,000 after acquiring an additional 371,078 shares during the period. Jennison Associates LLC lifted its position in shares of Performance Food Group by 8.1% during the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company's stock worth $141,003,000 after purchasing an additional 125,532 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Performance Food Group in the fourth quarter valued at approximately $814,000. Finally, Proficio Capital Partners LLC acquired a new stake in Performance Food Group during the 4th quarter worth approximately $2,087,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of Performance Food Group stock traded up $0.77 during trading on Thursday, reaching $75.64. The company's stock had a trading volume of 366,237 shares, compared to its average volume of 1,113,042. The business has a 50 day moving average price of $79.32 and a 200-day moving average price of $83.21. The company has a market capitalization of $11.82 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. As a group, sell-side analysts anticipate that Performance Food Group will post 4.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PFGC. StockNews.com lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Melius Research upgraded Performance Food Group to a "hold" rating in a research note on Wednesday, December 18th. Barclays reduced their target price on shares of Performance Food Group from $103.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Melius began coverage on Performance Food Group in a report on Wednesday, December 18th. They issued a "hold" rating and a $95.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.73.

About Performance Food Group

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.