Performance Food Group (NYSE:PFGC) Stock Position Decreased by abrdn plc

abrdn plc lowered its holdings in Performance Food Group (NYSE:PFGC) by 43.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,884 shares of the food distribution company’s stock after selling 13,505 shares during the period. abrdn plc’s holdings in Performance Food Group were worth $1,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Performance Food Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after purchasing an additional 107,449 shares during the period. FMR LLC lifted its position in Performance Food Group by 0.8% in the third quarter. FMR LLC now owns 12,441,763 shares of the food distribution company’s stock worth $732,322,000 after purchasing an additional 98,756 shares during the period. Clearbridge Investments LLC boosted its stake in Performance Food Group by 16.1% during the 3rd quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company’s stock valued at $373,684,000 after purchasing an additional 879,232 shares in the last quarter. Invesco Ltd. increased its position in shares of Performance Food Group by 8.3% during the 3rd quarter. Invesco Ltd. now owns 3,696,115 shares of the food distribution company’s stock valued at $217,553,000 after purchasing an additional 283,786 shares during the period. Finally, Palestra Capital Management LLC lifted its holdings in shares of Performance Food Group by 25.1% in the third quarter. Palestra Capital Management LLC now owns 2,259,010 shares of the food distribution company’s stock valued at $132,965,000 after buying an additional 453,453 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PFGC. Barclays lifted 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. BMO Capital Markets raised their price objective on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Morgan Stanley increased their price target on Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, Stephens boosted their price objective on Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Performance Food Group Stock Down 0.6 %

NYSE:PFGC opened at $68.46 on Tuesday. The business’s fifty day moving average price is $73.52 and its 200 day moving average price is $68.68. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 0.97 and a beta of 1.38. 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 1-year low of $52.92 and a 1-year high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. Performance Food Group’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, sell-side analysts forecast that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

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.