Freestone Grove Partners LP Takes $35.25 Million Position in Performance Food Group (NYSE:PFGC)

Freestone Grove Partners LP bought a new position in shares of Performance Food Group (NYSE:PFGC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 416,914 shares of the food distribution company's stock, valued at approximately $35,250,000. Freestone Grove Partners LP owned 0.27% of Performance Food Group at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Capital World Investors lifted its holdings in shares of Performance Food Group by 0.7% during the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock worth $1,849,809,000 after buying an additional 157,987 shares in the last quarter. FMR LLC grew its position in shares of 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 purchasing an additional 78,855 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the period. Wellington Management Group LLP raised its position in shares of Performance Food Group by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock valued at $330,560,000 after buying an additional 147,080 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock valued at $298,794,000 after buying an additional 401,235 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Trading Down 1.5 %

Shares of PFGC stock traded down $1.22 during trading hours on Tuesday, hitting $81.40. 666,030 shares of the company were exchanged, compared to its average volume of 1,107,151. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The firm has a market cap of $12.72 billion, a P/E ratio of 32.86, a P/E/G ratio of 0.96 and a beta of 1.16. The company has a 50 day simple moving average of $77.87 and a two-hundred day simple moving average of $83.17.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Equities analysts anticipate that Performance Food Group will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Performance Food Group from $102.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley raised their target price on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Finally, StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $95.09.

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.