PNC Financial Services Group Inc. decreased its holdings in shares of Performance Food Group (NYSE:PFGC – Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,371 shares of the food distribution company’s stock after selling 505 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Performance Food Group were worth $233,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after acquiring an additional 397,114 shares during the period. Oracle Alpha Inc. bought a new stake in shares of Performance Food Group in the 4th quarter worth approximately $448,000. Point72 Asset Management L.P. lifted its position in shares of Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after acquiring an additional 1,770,683 shares during the period. Lighthouse Investment Partners LLC bought a new stake in shares of Performance Food Group in the 4th quarter worth approximately $11,410,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Performance Food Group in the 4th quarter worth approximately $5,559,000. Institutional investors own 96.87% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Barclays cut their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Finally, Morgan Stanley raised their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.14.
View Our Latest Research Report on Performance Food Group
Performance Food Group Trading Down 1.4 %
PFGC stock opened at $65.19 on Tuesday. The business has a fifty day moving average price of $69.38 and a 200 day moving average price of $71.34. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 0.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.77.
Performance Food Group (NYSE:PFGC – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The business had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the prior year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that Performance Food Group will post 4.21 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.
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Source: defenseworld.net
