Performance Food Group Company $PFGC Shares Purchased by UBS Group AG

Key Points

• UBS Group AG increased its stake in Performance Food Group by 14.1% in Q4 to 1,321,266 shares (about 0.84% of the company), valuing the position at roughly $118.8 million, and institutional investors now own about 96.87% of the stock.
• Performance Food Group reported Q4 EPS of $0.98 (vs. $1.07 consensus) and revenue of $16.44 billion (vs. $16.54B expected), and the shares opened around $88.72, down roughly 2%.
• Analysts have trimmed price targets (e.g., UBS to $108, Barclays to $105) but largely retained Buy/Overweight calls, leaving a consensus rating of "Moderate Buy" with an average price target of $116.44.

UBS Group AG increased its holdings in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,321,266 shares of the food distribution company's stock after acquiring an additional 162,978 shares during the period. UBS Group AG owned approximately 0.84% of Performance Food Group worth $118,808,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PFGC. Wellington Management Group LLP grew its position in shares of Performance Food Group by 46.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company's stock valued at $646,447,000 after acquiring an additional 1,964,799 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Performance Food Group during the 3rd quarter valued at about $152,717,000. Invesco Ltd. grew its position in shares of Performance Food Group by 79.1% during the 3rd quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company's stock valued at $275,400,000 after acquiring an additional 1,168,869 shares during the period. Bank of America Corp DE grew its position in shares of Performance Food Group by 101.2% during the 3rd quarter. Bank of America Corp DE now owns 1,265,685 shares of the food distribution company's stock valued at $131,682,000 after acquiring an additional 636,506 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Performance Food Group by 194.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 833,228 shares of the food distribution company's stock valued at $86,689,000 after acquiring an additional 550,551 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PFGC. UBS Group dropped their target price on Performance Food Group from $120.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, February 5th. Barclays dropped their target price on Performance Food Group from $120.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 7th. Morgan Stanley lowered their price objective on Performance Food Group from $123.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, February 5th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Performance Food Group in a report on Thursday, February 5th. Finally, Citigroup lowered their price objective on Performance Food Group from $127.00 to $126.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $116.44.

Insider Buying and Selling at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider directly owned 6,601 shares in the company, valued at $607,490.03. The trade was a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Trading Down 2.0%

Shares of Performance Food Group stock opened at $88.72 on Friday. The stock has a market cap of $13.91 billion, a P/E ratio of 40.33, a P/E/G ratio of 1.42 and a beta of 0.92. The stock's 50 day simple moving average is $88.62 and its 200-day simple moving average is $92.82. Performance Food Group Company has a 1-year low of $77.44 and a 1-year high of $109.05. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The company had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Analysts predict that Performance Food Group Company will post 4.59 EPS for the current fiscal year.

About Performance Food Group

Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

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