Bank of Nova Scotia Makes New Investment in Performance Food Group (NYSE:PFGC)

Bank of Nova Scotia acquired a new stake in Performance Food Group (NYSE:PFGC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 111,855 shares of the food distribution company's stock, valued at approximately $9,457,000. Bank of Nova Scotia owned approximately 0.07% of Performance Food Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PFGC. Invesco Ltd. boosted its holdings in Performance Food Group by 11.9% in the fourth quarter. Invesco Ltd. now owns 1,719,075 shares of the food distribution company's stock worth $145,348,000 after purchasing an additional 182,335 shares during the period. Polymer Capital Management US LLC acquired a new stake in shares of Performance Food Group during the fourth quarter worth $267,000. FMR LLC lifted its holdings in shares of Performance Food Group by 0.6% in the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock valued at $1,132,231,000 after purchasing an additional 78,855 shares in the last quarter. Russell Investments Group Ltd. increased its position in Performance Food Group by 4.0% during the fourth quarter. Russell Investments Group Ltd. now owns 50,548 shares of the food distribution company's stock worth $4,274,000 after buying an additional 1,932 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new stake in shares of Performance Food Group in the fourth quarter valued at approximately $554,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Down 0.1 %

PFGC stock traded down $0.08 during trading on Wednesday, reaching $75.71. The stock had a trading volume of 142,184 shares, compared to its average volume of 1,113,878. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company's 50 day moving average is $79.52 and its two-hundred day moving average is $83.27. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 0.96 and a beta of 1.16.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Equities research analysts forecast that Performance Food Group will post 4.58 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on PFGC shares. Barclays decreased their price objective on shares of Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Morgan Stanley boosted their target price on Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. StockNews.com cut shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Piper Sandler downgraded Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Finally, Melius started coverage on shares of Performance Food Group in a research note on Wednesday, December 18th. They set a "hold" rating and a $95.00 target price for the company. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Performance Food Group currently has an average rating of "Moderate Buy" and an average target price of $95.73.

Performance Food Group Profile

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.