Headlands Technologies LLC Acquires New Position in Performance Food Group (NYSE:PFGC)

Headlands Technologies LLC acquired a new stake in Performance Food Group (NYSE:PFGC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 699 shares of the food distribution company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFGC. McGlone Suttner Wealth Management Inc. bought a new stake in Performance Food Group in the fourth quarter valued at about $29,000. GAMMA Investing LLC bought a new stake in Performance Food Group in the fourth quarter valued at about $29,000. Signaturefd LLC increased its holdings in Performance Food Group by 38.8% in the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock valued at $35,000 after buying an additional 143 shares during the last quarter. Fifth Third Bancorp increased its holdings in Performance Food Group by 50.4% in the third quarter. Fifth Third Bancorp now owns 821 shares of the food distribution company’s stock valued at $48,000 after buying an additional 275 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Performance Food Group by 16.1% in the third quarter. Covestor Ltd now owns 1,965 shares of the food distribution company’s stock valued at $116,000 after buying an additional 272 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PFGC shares. BMO Capital Markets lifted their target price on Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Barclays upped their target price on Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Morgan Stanley upped their target price 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. Finally, Stephens upped their target price on Performance Food Group from $75.00 to $85.00 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $68.43 on Thursday. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39. The business has a 50 day simple moving average of $73.25 and a 200 day simple moving average of $68.78. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75.

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