Daiwa Securities Group Inc. Acquires 33,373 Shares of Performance Food Group (NYSE:PFGC)

Daiwa Securities Group Inc. boosted its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,747 shares of the food distribution company's stock after acquiring an additional 33,373 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.09% of Performance Food Group worth $9,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFGC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Performance Food Group by 8.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,051 shares of the food distribution company's stock valued at $2,285,000 after purchasing an additional 2,601 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Performance Food Group in the fourth quarter valued at approximately $3,022,000. WCM Investment Management LLC raised its position in shares of Performance Food Group by 9.5% in the fourth quarter. WCM Investment Management LLC now owns 268,296 shares of the food distribution company's stock valued at $18,724,000 after purchasing an additional 23,205 shares during the period. Mosaic Family Wealth Partners LLC bought a new position in shares of Performance Food Group in the fourth quarter valued at approximately $257,000. Finally, Cerity Partners LLC bought a new position in shares of Performance Food Group in the fourth quarter valued at approximately $1,293,000. Institutional investors own 96.87% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of Performance Food Group from $78.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Stephens raised their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. StockNews.com upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a research note on Thursday, February 8th. Morgan Stanley raised their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, April 12th. Finally, BMO Capital Markets raised their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.25.

Performance Food Group Price Performance

Shares of Performance Food Group stock traded up $0.43 during trading on Friday, reaching $68.47. The company's stock had a trading volume of 1,553,586 shares, compared to its average volume of 912,487. The stock has a 50-day moving average price of $74.10 and a two-hundred day moving average price of $67.87. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The stock has a market capitalization of $10.65 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38.

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 analysts' consensus estimates 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 business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Performance Food Group will post 4.26 EPS for the current fiscal year.

Performance Food Group Company 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.