Performance Food Group (NYSE:PFGC) Shares Bought by Eminence Capital LP

Eminence Capital LP boosted its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,579,368 shares of the food distribution company's stock after purchasing an additional 79,591 shares during the quarter. Performance Food Group makes up approximately 3.3% of Eminence Capital LP's holdings, making the stock its 2nd biggest position. Eminence Capital LP owned 1.65% of Performance Food Group worth $218,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PFGC. Victory Capital Management Inc. increased its position in Performance Food Group by 154.2% in 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 last quarter. Norges Bank purchased a new stake in shares of Performance Food Group during the 4th quarter valued at about $164,471,000. Freestone Grove Partners LP purchased a new position in Performance Food Group in the fourth quarter worth about $35,250,000. JPMorgan Chase & Co. increased its stake in Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after acquiring an additional 401,235 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its position in Performance Food Group by 658.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock valued at $38,902,000 after purchasing an additional 399,430 shares during the period. Institutional investors own 96.87% of the company's stock.

Performance Food Group Stock Down 1.2 %

Performance Food Group stock traded down $1.02 during midday trading on Friday, reaching $84.42. The company's stock had a trading volume of 1,257,885 shares, compared to its average volume of 1,112,278. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The stock has a market capitalization of $13.19 billion, a P/E ratio of 34.04, a PEG ratio of 0.96 and a beta of 1.13. The stock's 50-day simple moving average is $77.90 and its 200-day simple moving average is $83.20. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same quarter last year, the business earned $0.80 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFGC. Truist Financial cut their target price on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday. Barclays increased their target price on shares of Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler downgraded shares of Performance Food Group from an "overweight" rating to a "neutral" rating and cut their price target for the company from $92.00 to $90.00 in a report on Friday, February 7th. Morgan Stanley boosted their target price on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.55.

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.