Junto Capital Management LP Acquires 1,135,641 Shares of Performance Food Group (NYSE:PFGC)

Junto Capital Management LP raised its stake in Performance Food Group (NYSE:PFGC - Free Report) by 419.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,406,080 shares of the food distribution company's stock after acquiring an additional 1,135,641 shares during the period. Performance Food Group makes up 2.3% of Junto Capital Management LP's portfolio, making the stock its 12th biggest position. Junto Capital Management LP owned approximately 0.90% of Performance Food Group worth $118,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of 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 valued at $298,794,000 after purchasing an additional 401,235 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Performance Food Group by 134.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock valued at $54,665,000 after purchasing an additional 371,078 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Performance Food Group by 8.1% during the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company's stock valued at $141,003,000 after purchasing an additional 125,532 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Performance Food Group during the fourth quarter valued at $814,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Performance Food Group during the fourth quarter valued at $2,087,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Shares of NYSE PFGC traded up $0.04 during trading on Wednesday, hitting $87.48. The company had a trading volume of 1,350,441 shares, compared to its average volume of 1,117,170. The stock has a 50 day simple moving average of $78.39 and a 200 day simple moving average of $83.30. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The firm has a market capitalization of $13.65 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $15.41 billion. During the same period last year, the business earned $0.80 EPS. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Truist Financial lowered their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Piper Sandler downgraded Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $92.00 to $90.00 in a report on Friday, February 7th. Barclays increased their target price on Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, StockNews.com downgraded Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and a consensus target price of $95.55.

About Performance Food Group

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.