Fmr LLC Raises Stake in Performance Food Group (NYSE:PFGC)

FMR LLC lifted its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,391,257 shares of the food distribution company's stock after acquiring an additional 78,855 shares during the quarter. FMR LLC owned 8.57% of Performance Food Group worth $1,132,231,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Performance Food Group by 11.8% during the 3rd 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 in the last quarter. State Street Corp boosted its stake in shares of Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company's stock worth $360,197,000 after acquiring an additional 97,069 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Performance Food Group in the 3rd quarter worth approximately $2,772,000. Assenagon Asset Management S.A. increased its stake 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 purchasing an additional 371,078 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in 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 during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Trading Up 0.1 %

NYSE PFGC traded up $0.05 during trading hours on Friday, hitting $75.50. 1,262,500 shares of the company's stock were exchanged, compared to its average volume of 1,121,949. The business's 50 day moving average is $79.99 and its 200-day moving average is $83.30. 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 12-month low of $61.60 and a 12-month high of $92.44. The firm has a market capitalization of $11.79 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results 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 return on equity of 16.58% and a net margin of 0.64%. As a group, analysts anticipate that Performance Food Group will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PFGC. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Morgan Stanley lifted their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. StockNews.com lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Barclays cut their price objective on Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Melius Research upgraded Performance Food Group to a "hold" rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.