Vaughan Nelson Investment Management L.P. Buys 120,725 Shares of Performance Food Group Company $PFGC

Key Points

• Vaughan Nelson Investment Management increased its stake in Performance Food Group by 37.7%, buying 120,725 shares to hold 441,146 shares valued at about $39.67 million (≈0.28% of the company).
• Institutional ownership is very high at 96.87%, with major managers like Capital World, Wellington, and Invesco also materially increasing their PFGC positions recently.
• Performance Food Group missed quarterly estimates (EPS $0.98 vs. $1.07 expected; revenue $16.44B vs. $16.54B) and several firms trimmed price targets, but consensus remains a "Moderate Buy" with an average target of $116.44.

Vaughan Nelson Investment Management L.P. grew its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 37.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 441,146 shares of the food distribution company's stock after acquiring an additional 120,725 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.28% of Performance Food Group worth $39,668,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PFGC. Capital World Investors boosted its holdings in Performance Food Group by 0.8% in the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company's stock worth $2,335,371,000 after purchasing an additional 185,624 shares during the last quarter. Wellington Management Group LLP raised its stake in 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 buying an additional 1,964,799 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Performance Food Group by 8.6% during the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company's stock valued at $269,318,000 after buying an additional 244,793 shares during the period. Invesco Ltd. lifted its holdings 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 buying an additional 1,168,869 shares during the period. Finally, Eminence Capital LP boosted its stake in shares of Performance Food Group by 6.7% in the 2nd quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company's stock worth $196,880,000 after buying an additional 141,864 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PFGC shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of Performance Food Group in a research report on Thursday, February 5th. Piper Sandler cut their price target on Performance Food Group from $116.00 to $111.00 and set an "overweight" rating for the company in a research note on Friday, December 12th. Citigroup reduced their price target on shares of Performance Food Group from $127.00 to $126.00 and set a "buy" rating for the company in a research report on Friday, February 6th. UBS Group lowered their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. Finally, Barclays cut their target price on shares of Performance Food Group from $120.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.44.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the sale, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.50% of the company's stock.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $84.42 on Tuesday. The stock has a market cap of $13.24 billion, a P/E ratio of 38.37, a P/E/G ratio of 1.17 and a beta of 0.91. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. The stock's fifty day moving average is $91.77 and its 200 day moving average is $95.14. Performance Food Group Company has a one year low of $68.39 and a one year high of $109.05.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.09). Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The company had revenue of $16.44 billion during the quarter, compared to analysts' expectations of $16.54 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business's quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current 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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