Massachusetts Financial Services Co. MA Lowers Stake in Performance Food Group (NYSE:PFGC)

Massachusetts Financial Services Co. MA lessened its position in Performance Food Group (NYSE:PFGC - Free Report) by 19.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 45,935 shares of the food distribution company's stock after selling 11,374 shares during the period. Massachusetts Financial Services Co. MA's holdings in Performance Food Group were worth $3,884,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFGC. Victory Capital Management Inc. raised its holdings 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 worth $330,625,000 after acquiring an additional 2,371,818 shares during the last quarter. Norges Bank purchased a new stake in shares of Performance Food Group in the fourth quarter worth approximately $164,471,000. JPMorgan Chase & Co. raised its stake in shares of Performance Food Group by 11.8% in 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 last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Performance Food Group by 134.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock valued at $54,665,000 after buying an additional 371,078 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

PFGC stock traded up $0.05 during mid-day trading on Friday, reaching $75.50. 1,262,500 shares of the company traded hands, compared to its average volume of 1,121,949. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The company has a market capitalization of $11.79 billion, a P/E ratio of 30.45, a P/E/G ratio of 0.96 and a beta of 1.16. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The company has a fifty day moving average price of $79.99 and a 200-day moving average price of $83.30.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate 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, analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on PFGC shares. Morgan Stanley raised their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $92.00 to $90.00 in a report on Friday, February 7th. StockNews.com lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Melius began coverage on shares of Performance Food Group in a research report on Wednesday, December 18th. They set a "hold" rating and a $95.00 target price on the stock. Finally, Barclays reduced their target price 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.