Palestra Capital Management LLC Boosts Position in Performance Food Group (NYSE:PFGC)

Palestra Capital Management LLC boosted its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,983,377 shares of the food distribution company's stock after purchasing an additional 122,338 shares during the period. Performance Food Group comprises 4.6% of Palestra Capital Management LLC's holdings, making the stock its 8th largest position. Palestra Capital Management LLC owned approximately 1.27% of Performance Food Group worth $167,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFGC. Millstone Evans Group LLC bought a new position in shares of Performance Food Group in the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division acquired a new position in shares of Performance Food Group during the 4th quarter worth approximately $42,000. Blue Trust Inc. raised its stake in shares of Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after purchasing an additional 212 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Performance Food Group by 51.4% in the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock valued at $60,000 after buying an additional 239 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Performance Food Group by 69.1% in the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock valued at $65,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFGC. Morgan Stanley lifted their price objective on shares of 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. Barclays dropped their price objective on Performance Food Group from $102.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.09.

Performance Food Group Trading Up 1.8 %

PFGC traded up $1.46 during trading on Friday, reaching $82.66. 785,656 shares of the company's stock were exchanged, compared to its average volume of 1,107,544. The stock has a market capitalization of $12.91 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. The firm has a fifty day moving average price of $77.87 and a two-hundred day moving average price of $83.18. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. Performance Food Group has a one year low of $61.60 and a one year high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. As a group, equities research analysts forecast that Performance Food Group will post 4.58 earnings per share 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.