Xponance Inc. Trims Stock Position in Performance Food Group (NYSE:PFGC)

Xponance Inc. cut its stake in Performance Food Group (NYSE:PFGC) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,336 shares of the food distribution company’s stock after selling 1,024 shares during the period. Xponance Inc.’s holdings in Performance Food Group were worth $1,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC raised its holdings in Performance Food Group by 16.1% during the third quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company’s stock worth $373,684,000 after purchasing an additional 879,232 shares in the last quarter. Earnest Partners LLC raised its holdings in Performance Food Group by 162.5% during the third quarter. Earnest Partners LLC now owns 768,432 shares of the food distribution company’s stock worth $45,230,000 after purchasing an additional 475,683 shares in the last quarter. Palestra Capital Management LLC raised its holdings 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 purchasing an additional 453,453 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Performance Food Group by 333.1% during the third quarter. The Manufacturers Life Insurance Company now owns 504,311 shares of the food distribution company’s stock worth $29,684,000 after buying an additional 387,869 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in Performance Food Group by 225.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 528,462 shares of the food distribution company’s stock worth $31,105,000 after buying an additional 365,997 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on PFGC shares. Morgan Stanley upped their target price on shares of 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. Stephens upped their target price on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Barclays upped their target price on shares of Performance Food Group from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets increased their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Performance Food Group Stock Up 0.4 %

Shares of NYSE PFGC opened at $69.28 on Wednesday. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The firm’s 50 day moving average price is $73.90 and its 200 day moving average price is $68.29. 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 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 (NYSE:PFGC) last announced 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). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter last year, the business posted $0.83 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Performance Food Group will post 4.26 earnings per share for the current 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.