Norges Bank Acquires Shares of 1,945,253 Performance Food Group (NYSE:PFGC)

Norges Bank acquired a new position in shares of Performance Food Group (NYSE:PFGC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,945,253 shares of the food distribution company's stock, valued at approximately $164,471,000. Norges Bank owned about 1.25% of Performance Food Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in 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 purchasing an additional 2,371,818 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Performance Food Group by 32.0% in the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company's stock valued at $234,174,000 after buying an additional 724,094 shares during the period. JPMorgan Chase & Co. grew its position 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 in the last quarter. TimesSquare Capital Management LLC increased its stake in Performance Food Group by 658.3% during 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 acquiring an additional 399,430 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Performance Food Group by 134.7% in 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 in the last quarter. Institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler lowered Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Melius Research raised shares of Performance Food Group to a "hold" rating in a report on Wednesday, December 18th. Barclays dropped 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 research note on Thursday, February 6th. 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, StockNews.com lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Five equities 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, Performance Food Group presently has an average rating of "Moderate Buy" and an average price target of $95.73.

Performance Food Group Price Performance

Shares of NYSE PFGC traded down $2.66 during mid-day trading on Friday, hitting $73.39. 1,699,899 shares of the stock were exchanged, compared to its average volume of 1,108,284. The company has a market cap of $11.46 billion, a P/E ratio of 29.59, a PEG ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The stock's fifty day simple moving average is $82.19 and its two-hundred day simple moving average is $83.46.

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 earnings per share (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 forecast that Performance Food Group will post 4.58 EPS for the current fiscal year.

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.