Vaughan Nelson Investment Management L.P. Lowers Stake in Performance Food Group (NYSE:PFGC)

Vaughan Nelson Investment Management L.P. cut its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 75.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 289,602 shares of the food distribution company's stock after selling 886,667 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.19% of Performance Food Group worth $20,025,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Performance Food Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company's stock worth $937,613,000 after purchasing an additional 107,449 shares during the period. BlackRock Inc. increased its stake in shares of Performance Food Group by 0.3% in the first quarter. BlackRock Inc. now owns 13,608,782 shares of the food distribution company's stock worth $821,154,000 after purchasing an additional 44,032 shares during the period. Wellington Management Group LLP increased its stake in shares of Performance Food Group by 11.3% in the first quarter. Wellington Management Group LLP now owns 13,298,661 shares of the food distribution company's stock worth $677,034,000 after purchasing an additional 1,349,095 shares during the period. FMR LLC increased its stake in Performance Food Group by 0.8% during the third quarter. FMR LLC now owns 12,441,763 shares of the food distribution company's stock valued at $732,322,000 after acquiring an additional 98,756 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Performance Food Group by 16.1% during the third quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company's stock valued at $373,684,000 after acquiring an additional 879,232 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Trading Up 0.9 %

Shares of NYSE:PFGC traded up $0.60 during midday trading on Friday, hitting $70.30. The company had a trading volume of 1,156,899 shares, compared to its average volume of 941,606. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.00 and a beta of 1.38. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $74.66 and a 200 day simple moving average of $67.32.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the business earned $0.83 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Performance Food Group will post 4.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFGC. StockNews.com upgraded Performance Food Group from a "hold" rating to a "buy" rating in a research note on Thursday, February 8th. BMO Capital Markets boosted their price target 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. Stephens boosted their price target on Performance Food Group from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Finally, Barclays increased their target price on Performance Food Group from $78.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group has a consensus rating of "Moderate Buy" and an average price target of $79.75.

Performance Food Group Profile

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.