KLP Kapitalforvaltning AS Takes Position in Performance Food Group (NYSE:PFGC)

KLP Kapitalforvaltning AS bought a new stake in shares of Performance Food Group (NYSE:PFGC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 43,720 shares of the food distribution company's stock, valued at approximately $3,697,000.

Other hedge funds also recently modified their holdings of the company. FMR LLC lifted its holdings in Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company's stock valued at $1,043,293,000 after buying an additional 2,773,547 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Performance Food Group by 154.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock valued at $330,625,000 after purchasing an additional 2,371,818 shares during the period. Holocene Advisors LP boosted its position in shares of Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company's stock worth $234,174,000 after purchasing an additional 724,094 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 401,235 shares during the period. Finally, TimesSquare Capital Management LLC increased its holdings in Performance Food Group by 658.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock valued at $38,902,000 after purchasing an additional 399,430 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

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Performance Food Group Stock Down 0.8 %

Shares of NYSE:PFGC traded down $0.64 during mid-day trading on Friday, reaching $77.36. 629,481 shares of the stock were exchanged, compared to its average volume of 1,110,331. The stock's 50 day simple moving average is $83.29 and its 200-day simple moving average is $83.41. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The company has a market cap of $12.08 billion, a P/E ratio of 31.19, a P/E/G ratio of 0.96 and a beta of 1.40. 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 (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results 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%. As a group, equities research analysts predict that Performance Food Group will post 4.58 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PFGC shares. Melius started coverage on Performance Food Group in a report on Wednesday, December 18th. They set a "hold" rating and a $95.00 target price on the stock. Melius Research upgraded shares of Performance Food Group to a "hold" rating in a report on Wednesday, December 18th. Morgan Stanley lifted 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. Barclays lowered their price target on Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.