Performance Food Group (NYSE:PFGC) Stake Raised by Palestra Capital Management LLC

Palestra Capital Management LLC increased its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. 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 makes up about 4.6% of Palestra Capital Management LLC's holdings, making the stock its 8th biggest holding. Palestra Capital Management LLC owned approximately 1.27% of Performance Food Group worth $167,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PFGC. Capital World Investors grew its holdings in Performance Food Group by 0.7% in the 4th quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock worth $1,849,809,000 after acquiring an additional 157,987 shares during the last quarter. FMR LLC grew its stake in shares of Performance Food Group by 0.6% in the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after purchasing an additional 78,855 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock valued at $330,625,000 after purchasing an additional 2,371,818 shares during the period. Wellington Management Group LLP raised its position in Performance Food Group by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock valued at $330,560,000 after purchasing an additional 147,080 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after buying an additional 401,235 shares during the period. Institutional investors own 96.87% of the company's stock.

Performance Food Group Trading Down 1.8 %

Shares of Performance Food Group stock traded down $1.48 on Tuesday, hitting $81.15. 892,926 shares of the company traded hands, compared to its average volume of 1,108,011. The stock's 50 day moving average price is $77.87 and its 200-day moving average price is $83.17. The company has a market cap of $12.68 billion, a PE ratio of 32.72, a PEG ratio of 0.96 and a beta of 1.16. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. 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 (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Equities research analysts predict that Performance Food Group will post 4.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley raised their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Barclays dropped their price target on Performance Food Group from $102.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, StockNews.com lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and an average price target of $95.09.

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.