3,144 Shares in Performance Food Group (NYSE:PFGC) Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC purchased a new stake in Performance Food Group (NYSE:PFGC) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,144 shares of the food distribution company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Performance Food Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock worth $937,613,000 after acquiring an additional 107,449 shares during the last quarter. FMR LLC grew its holdings in shares of Performance Food Group by 0.8% during the third quarter. FMR LLC now owns 12,441,763 shares of the food distribution company’s stock worth $732,322,000 after buying an additional 98,756 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Performance Food Group by 16.1% in the third quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company’s stock valued at $373,684,000 after buying an additional 879,232 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Performance Food Group by 8.3% during the third quarter. Invesco Ltd. now owns 3,696,115 shares of the food distribution company’s stock valued at $217,553,000 after buying an additional 283,786 shares during the period. Finally, Palestra Capital Management LLC boosted its position in Performance Food Group by 25.1% during the third quarter. Palestra Capital Management LLC now owns 2,259,010 shares of the food distribution company’s stock worth $132,965,000 after acquiring an additional 453,453 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

PFGC stock opened at $69.28 on Wednesday. The firm has a market cap of $10.78 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. The stock has a 50-day simple moving average of $73.90 and a 200-day simple moving average of $68.29. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. On average, equities analysts predict that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BMO Capital Markets increased their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Morgan Stanley lifted their price target on Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Stephens increased their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Barclays boosted their target price on shares of Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.25.

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.