Raymond James Financial Inc. Invests $16.83 Million in Performance Food Group (NYSE:PFGC)

Raymond James Financial Inc. purchased a new stake in shares of Performance Food Group (NYSE:PFGC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 199,057 shares of the food distribution company's stock, valued at approximately $16,830,000. Raymond James Financial Inc. owned approximately 0.13% of Performance Food Group at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake 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 valued at $298,794,000 after buying an additional 401,235 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Performance Food Group in the third quarter valued at about $2,772,000. State Street Corp boosted its stake in shares of Performance Food Group by 2.2% in the third 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 during the period. Assenagon Asset Management S.A. grew 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 worth $54,665,000 after purchasing an additional 371,078 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Performance Food Group during the 3rd quarter valued at approximately $3,032,000. 96.87% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages have issued reports on PFGC. Melius Research raised shares of Performance Food Group to a "hold" rating in a report on Wednesday, December 18th. Barclays reduced their price target on shares of Performance Food Group from $103.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Piper Sandler lowered 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 research report on Friday, February 7th. Finally, StockNews.com downgraded Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.73.

Performance Food Group Trading Up 1.1 %

Shares of NYSE PFGC traded up $0.87 during trading hours on Friday, hitting $76.84. 1,887,742 shares of the company traded hands, compared to its average volume of 1,059,332. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. The company's 50 day moving average price is $84.34 and its 200 day moving average price is $83.05. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its 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 net margin of 0.64% and a return on equity of 16.58%. On average, equities research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Performance Food Group Company 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.