Point72 Asset Management L.P. Boosts Stock Position in Performance Food Group (NYSE:PFGC)

Point72 Asset Management L.P. increased its stake in shares of Performance Food Group (NYSE:PFGC) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,111,242 shares of the food distribution company’s stock after buying an additional 498,554 shares during the quarter. Point72 Asset Management L.P.’s holdings in Performance Food Group were worth $178,506,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its position in Performance Food Group by 0.7% in the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company’s stock valued at $1,849,809,000 after buying an additional 157,987 shares during the last quarter. FMR LLC increased its stake in Performance Food Group by 0.6% during the 4th quarter. FMR LLC now owns 13,391,257 shares of the food distribution company’s stock worth $1,132,231,000 after buying an additional 78,855 shares during the period. Victory Capital Management Inc. boosted its position in Performance Food Group by 154.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after buying an additional 2,371,818 shares during the period. Wellington Management Group LLP increased its position in shares of Performance Food Group by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company’s stock worth $330,560,000 after acquiring an additional 147,080 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in 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 worth $298,794,000 after purchasing an additional 401,235 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

NYSE PFGC opened at $87.48 on Thursday. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The business’s 50 day moving average is $78.39 and its two-hundred day moving average is $83.30. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 0.96 and a beta of 1.13. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Performance Food Group’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Research analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFGC. Piper Sandler downgraded Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Morgan Stanley raised 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. Truist Financial dropped their price objective on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Barclays increased their price target on shares of Performance Food Group from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $95.55.

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.