AE Wealth Management LLC Takes $1.67 Million Position in Performance Food Group Company $PFGC

AE Wealth Management LLC purchased a new position in Performance Food Group Company (NYSE:PFGC) in the third quarter, Holdings Channel reports. The fund purchased 16,010 shares of the food distribution company’s stock, valued at approximately $1,666,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Performance Food Group in the 2nd quarter worth approximately $163,954,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Performance Food Group in the third quarter worth $152,717,000. Primecap Management Co. CA raised its holdings in shares of Performance Food Group by 22.1% during the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after acquiring an additional 465,807 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Performance Food Group during the second quarter valued at $24,726,000. Finally, Qube Research & Technologies Ltd grew its stake in Performance Food Group by 499.5% in the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after purchasing an additional 273,997 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PFGC shares. Morgan Stanley set a $123.00 price target on Performance Food Group in a research note on Tuesday, January 20th. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Barclays decreased their target price on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. UBS Group restated a “buy” rating and set a $120.00 price target on shares of Performance Food Group in a research note on Friday, December 19th. Finally, Piper Sandler reduced their price objective on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.22.

Performance Food Group Trading Down 0.7%

Shares of PFGC stock opened at $94.76 on Tuesday. Performance Food Group Company has a 12 month low of $68.39 and a 12 month high of $109.05. The company has a quick ratio of 0.70, a current ratio of 1.67 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $93.22 and its two-hundred day moving average is $97.95. The company has a market cap of $14.86 billion, a PE ratio of 45.56, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The business had revenue of $17.08 billion during the quarter, compared to analysts’ expectations of $16.87 billion. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. Performance Food Group’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. Equities analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.